Gradient Investments LLC Boosts Stake in Nio

insider trading

Gradient Investments LLC raised its position in shares of Nio Inc – (NYSE:NIO) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission.

The firm owned 8,486 shares of the company’s stock after acquiring an additional 500 shares during the period. Gradient Investments LLC’s holdings in NIO were worth $180,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NIO. Schonfeld Strategic Advisors LLC acquired a new position in shares of NIO during the second quarter worth about $505,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of NIO by 3.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,266,888 shares of the company’s stock worth $17,500,000 after purchasing an additional 70,235 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of NIO during the second quarter worth about $5,774,000. Nuveen Asset Management LLC lifted its stake in shares of NIO by 21.7% during the second quarter. Nuveen Asset Management LLC now owns 1,329,621 shares of the company’s stock worth $10,265,000 after purchasing an additional 237,070 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of NIO by 2,024.4% during the second quarter. FMR LLC now owns 25,535 shares of the company’s stock worth $197,000 after purchasing an additional 24,333 shares in the last quarter. 39.43% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on the company. Credit Suisse Group boosted their price target on NIO from $17.50 to $25.00 in a research note on Thursday, September 3rd. Piper Sandler reiterated a “neutral” rating and issued a $14.00 price target (up previously from $4.00) on shares of NIO in a research note on Wednesday, August 12th. Morgan Stanley upgraded NIO from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $12.00 to $20.50 in a research note on Wednesday, August 26th. Bank of America reiterated a “buy” rating and issued a $18.00 price target on shares of NIO in a research note on Wednesday, August 12th. Finally, Zacks Investment Research upgraded NIO from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, August 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.08.

NYSE:NIO opened at $21.56 on Thursday. The firm has a market capitalization of $22.12 billion, a PE ratio of -18.91 and a beta of 2.78. The stock has a 50 day moving average of $18.43 and a 200-day moving average of $9.67. Nio Inc – has a 52 week low of $1.36 and a 52 week high of $22.59.

NIO (NYSE:NIO) last posted its earnings results 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 firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.51 billion. The company’s revenue was up 146.5% on a year-over-year basis. During the same period in the previous year, the business earned ($3.11) earnings per share. On average, sell-side analysts forecast that Nio Inc – will post -0.73 EPS for the current fiscal 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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