Nio Inc – (NYSE:NIO) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of Nio Inc – (NYSE:NIO) by 20.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,581 shares of the company’s stock after selling 3,170 shares during the period. Bank of Nova Scotia’s holdings in NIO were worth $55,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC lifted its stake in NIO by 39.4% during the fourth quarter. Krane Funds Advisors LLC now owns 662,100 shares of the company’s stock worth $2,887,000 after purchasing an additional 187,260 shares during the last quarter. Arizona PSPRS Trust acquired a new position in shares of NIO in the 4th quarter valued at $1,330,000. Trexquant Investment LP purchased a new position in shares of NIO in the 4th quarter valued at $3,305,000. Franklin Resources Inc. raised its stake in 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 acquiring an additional 2,788 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in NIO by 28.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 41,104 shares of the company’s stock valued at $179,000 after acquiring an additional 9,222 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Trading Up 0.1 %

Shares of NIO stock opened at $3.62 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of -2.39 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 company’s 50-day simple moving average is $4.21 and its 200-day simple moving average is $4.64.

NIO (NYSE:NIO) last issued its earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period last year, the company posted ($2.81) earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nio Inc – will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NIO shares. HSBC lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Citigroup decreased their price objective on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a report on Monday, March 24th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Cfra Research raised shares of NIO to a “hold” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. cut shares of NIO from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently 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.