Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Nio Inc – (NYSE:NIO) by 52.7% in the 2nd quarter, Holdings Channel reports.
The institutional investor owned 53,600 shares of the company’s stock after purchasing an additional 18,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in NIO were worth $414,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. NorthCoast Asset Management LLC acquired a new stake in shares of NIO in the 1st quarter worth about $28,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of NIO in the 1st quarter worth about $28,000. Vista Investment Management acquired a new stake in shares of NIO in the 1st quarter worth about $28,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of NIO in the 2nd quarter worth about $31,000.
Finally, Focused Wealth Management Inc raised its holdings in shares of NIO by 807.8% in the 2nd quarter. Focused Wealth Management Inc now owns 5,011 shares of the company’s stock worth $39,000 after acquiring an additional 4,459 shares during the last quarter. Institutional investors own 39.43% of the company’s stock.
NIO (NYSE:NIO) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($1.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.73). The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.51 billion. The company’s revenue for the quarter was up 146.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($3.11) earnings per share. As a group, equities analysts anticipate that Nio Inc – will post -0.73 earnings per share for the current year.
Several equities research analysts have commented on the stock. UBS Group upgraded shares of NIO from a “sell” rating to a “neutral” rating and set a $16.30 price objective for the company in a research note on Tuesday, August 25th. Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and set a $7.00 price objective for the company. in a research note on Friday, July 17th. CICC Research raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $13.50 target price for the company in a research report on Tuesday, July 21st. Deutsche Bank started coverage on shares of NIO in a research report on Tuesday. They set a “buy” rating and a $24.00 target price for the company. Finally, Bank of America reissued a “buy” rating and set a $18.00 target price on shares of NIO in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $12.46.
About NIO
NIO Inc designs, manufactures, and sells electric vehicles in the People’s Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.
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