Vanguard Group boosts stakes in NIO by 4%

Vanguard Group Inc. boosted its position in shares of Nio Inc – (NYSE:NIO) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC.

The institutional investor owned 28,585,399 shares of the company’s stock after purchasing an additional 1,093,756 shares during the period. Vanguard Group Inc. owned 2.79% of NIO worth $220,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. APG Asset Management N.V. grew its position in NIO by 46.1% during the 2nd quarter. APG Asset Management N.V. now owns 249,900 shares of the company’s stock worth $1,718,000 after purchasing an additional 78,800 shares in the last quarter. Advisor Group Holdings Inc. grew its position in NIO by 25.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 189,753 shares of the company’s stock worth $1,464,000 after purchasing an additional 38,713 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of NIO by 52.7% during the 2nd quarter.

Skandinaviska Enskilda Banken AB publ now owns 53,600 shares of the company’s stock valued at $414,000 after acquiring an additional 18,500 shares in the last quarter. Bridgewater Associates LP grew its holdings in shares of NIO by 1,028.7% during the 2nd quarter. Bridgewater Associates LP now owns 856,026 shares of the company’s stock valued at $6,609,000 after acquiring an additional 780,183 shares in the last quarter. Finally, Dai Ichi Life Insurance Company Ltd purchased a new position in shares of NIO during the 2nd quarter valued at $1,058,000. Hedge funds and other institutional investors own 39.43% of the company’s stock.

Several research firms have recently commented on NIO. CICC Research upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $13.50 price target on the stock in a report on Tuesday, July 21st. began coverage on shares of NIO in a report on Tuesday, June 9th. They set a “sell” rating on the stock. UBS Group upgraded shares of NIO from a “sell” rating to a “neutral” rating and set a $16.30 price target on the stock in a report on Tuesday, August 25th. Citigroup boosted their price target on shares of NIO from $16.00 to $18.10 and gave the company a “neutral” rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $2.00 to $3.50 in a report on Wednesday, May 27th. Three 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. NIO presently has a consensus rating of “Hold” and a consensus target price of $12.46.

NIO stock opened at $19.41 on Monday. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of -17.03 and a beta of 2.86. Nio Inc – has a fifty-two week low of $1.19 and a fifty-two week high of $21.05. The firm has a fifty day moving average price of $15.91 and a two-hundred day moving average price of $8.13.

NIO (NYSE:NIO) last released its earnings results on Tuesday, August 11th. The company reported ($1.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.73). The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.51 billion. NIO’s revenue was up 146.5% on a year-over-year basis. During the same period last year, the company posted ($3.11) earnings per share. Analysts forecast that Nio Inc – will post -0.73 earnings per share for the current year.

NIO Profile

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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