Legal & General Group Plc Trims Position in Nio Inc – (NYSE:NIO)

Legal & General Group Plc trimmed its stake in Nio Inc – (NYSE:NIO) by 42.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,301,731 shares of the company’s stock after selling 4,702,959 shares during the period. Legal & General Group Plc’s holdings in NIO were worth $27,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Arizona PSPRS Trust bought a new stake in shares of NIO during the fourth quarter valued at approximately $1,330,000. Trexquant Investment LP purchased a new stake in shares of NIO in the 4th quarter worth $3,305,000. Franklin Resources Inc. grew its position in shares of NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company’s stock worth $72,000 after buying an additional 2,788 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of NIO by 28.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 41,104 shares of the company’s stock valued at $179,000 after buying an additional 9,222 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of NIO in the fourth quarter valued at about $93,000. 48.55% of the stock is currently owned by institutional investors.

NIO Stock Performance

Shares of NIO stock opened at $3.50 on Monday. The stock has a market cap of $7.30 billion, a PE ratio of -2.32 and a beta of 1.74. Nio Inc – has a 52-week low of $3.02 and a 52-week high of $7.71. The business has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $4.67. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last released its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.81) EPS. On average, equities analysts expect that Nio Inc – will post -1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NIO shares. Citigroup dropped their target price on shares of NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a report on Monday, March 24th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Mizuho reduced their price target on NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a research report on Thursday. Finally, Cfra Research upgraded NIO to a “hold” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.05.

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.