Nuveen Asset Management Purchases 237,070 Shares of Nio

Nuveen Asset Management LLC boosted its stake in shares of Nio Inc – (NYSE:NIO) by 21.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission.

The institutional investor owned 1,329,621 shares of the company’s stock after buying an additional 237,070 shares during the period. Nuveen Asset Management LLC owned approximately 0.13% of NIO worth $10,265,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new position in NIO during the 2nd quarter valued at approximately $31,000. Focused Wealth Management Inc increased its position in NIO by 807.8% during the 2nd quarter. Focused Wealth Management Inc now owns 5,011 shares of the company’s stock valued at $39,000 after buying an additional 4,459 shares in the last quarter. Valeo Financial Advisors LLC increased its position in NIO by 76.0% during the 2nd quarter.

Valeo Financial Advisors LLC now owns 5,281 shares of the company’s stock valued at $41,000 after buying an additional 2,281 shares in the last quarter. SRS Capital Advisors Inc. increased its position in NIO by 18.1% during the 2nd quarter. SRS Capital Advisors Inc. now owns 6,495 shares of the company’s stock valued at $50,000 after buying an additional 995 shares in the last quarter. Finally, Vista Investment Management bought a new position in NIO during the 1st quarter valued at approximately $28,000. 39.43% of the stock is owned by institutional investors.

Several analysts have commented on NIO shares. Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and set a $7.00 target price on the stock. in a research note on Friday, July 17th. started coverage on NIO in a research note on Tuesday, June 9th. They set a “sell” rating on the stock. CICC Research upgraded NIO from a “neutral” rating to an “outperform” rating and set a $13.50 target price on the stock in a research note on Tuesday, July 21st. Citigroup increased their target price on NIO from $16.00 to $18.10 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Finally, Deutsche Bank started coverage on NIO in a research note on Tuesday, September 8th. They set a “buy” rating and a $24.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. NIO has a consensus rating of “Hold” and a consensus target price of $14.08.

NIO stock opened at $21.18 on Friday. The company has a market cap of $21.73 billion, a P/E ratio of -18.58 and a beta of 2.86. Nio Inc – has a 1 year low of $1.36 and a 1 year high of $22.59. The stock’s fifty day moving average price is $17.65 and its 200-day moving average price is $9.22.

NIO (NYSE:NIO) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.73). The firm had revenue of $3.49 billion during 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 quarter in the prior year, the business posted ($3.11) EPS. Sell-side analysts expect that Nio Inc – will post -0.73 earnings per share for the current year.

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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