Main Management ETF Advisors LLC Trims Stock Position in Nio Inc – (NYSE:NIO)

Main Management ETF Advisors LLC lessened its stake in shares of Nio Inc – (NYSE:NIO) by 8.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 182,272 shares of the company’s stock after selling 16,384 shares during the period. Main Management ETF Advisors LLC’s holdings in NIO were worth $795,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after acquiring an additional 3,607 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after purchasing an additional 4,332 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in shares of NIO during the 4th quarter worth about $44,000. Callan Family Office LLC purchased a new stake in shares of NIO during the fourth quarter worth about $44,000. Finally, Trilogy Capital Inc. acquired a new position in shares of NIO in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Trading Down 1.7%

Shares of NIO opened at $4.13 on Wednesday. Nio Inc – has a twelve month low of $3.02 and a twelve month high of $7.71. The firm has a market capitalization of $8.62 billion, a P/E ratio of -2.74 and a beta of 1.73. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $4.03 and its 200 day simple moving average is $4.36.

NIO (NYSE:NIO) last released its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The firm 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 business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned ($2.81) earnings per share. On average, equities research analysts forecast that Nio Inc – will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NIO. Citigroup restated a “buy” rating on shares of NIO in a research report on Monday, April 28th. Cfra Research upgraded NIO to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Finally, Mizuho reduced their target price on NIO from $4.20 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.05.

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.