Griffin Asset Management Inc. Acquires 12,340 Shares of Nio Inc – (NYSE:NIO)

Griffin Asset Management Inc. grew its holdings in shares of Nio Inc – (NYSE:NIOGet Rating) by 26.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 58,330 shares of the company’s stock after acquiring an additional 12,340 shares during the period. Griffin Asset Management Inc.’s holdings in NIO were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in NIO in the fourth quarter valued at $435,592,000. Schroder Investment Management Group boosted its holdings in NIO by 6,141.7% during the fourth quarter. Schroder Investment Management Group now owns 12,979,146 shares of the company’s stock worth $411,180,000 after purchasing an additional 12,771,205 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in NIO by 35.2% during the third quarter. UBS Asset Management Americas Inc. now owns 9,446,164 shares of the company’s stock worth $336,567,000 after purchasing an additional 2,458,313 shares during the last quarter. WT Asset Management Ltd bought a new stake in NIO in the fourth quarter worth about $77,414,000. Finally, BlackRock Inc. raised its position in shares of NIO by 3.9% in the fourth quarter. BlackRock Inc. now owns 64,036,975 shares of the company’s stock valued at $2,028,693,000 after purchasing an additional 2,412,164 shares during the period. 42.98% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on NIO shares. UBS Group raised shares of NIO from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $42.00 to $32.00 in a report on Monday, April 4th. Nomura cut their price objective on shares of NIO from $67.10 to $51.50 and set a “buy” rating for the company in a research note on Monday, March 28th. Citigroup dropped their price target on shares of NIO from $87.00 to $41.10 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley decreased their price objective on shares of NIO from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, June 10th. Finally, assumed coverage on shares of NIO in a research note on Thursday, March 24th. They issued a “buy” rating and a $32.40 price target for the company. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.91.

Shares of NIO opened at $22.55 on Thursday. Nio Inc – has a 12-month low of $11.67 and a 12-month high of $55.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.02 and a quick ratio of 1.93. The firm has a fifty day moving average price of $17.37 and a 200-day moving average price of $22.37.

NIO (NYSE:NIOGet Rating) last issued its earnings results on Thursday, June 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.24. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.86 billion. NIO had a negative net margin of 19.67% and a negative return on equity of 24.99%. The business’s revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.48) earnings per share. On average, sell-side analysts anticipate that Nio Inc – will post -0.62 earnings per share for the current fiscal year.

About NIO (Get Rating)

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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Institutional Ownership by Quarter for NIO (NYSE:NIO)

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