Legal & General Group Plc Reduces Stock Position in Nio Inc - (NYSE:NIO)

Legal & General Group Plc reduced its holdings in Nio Inc - (NYSE:NIO - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,301,731 shares of the company's stock after selling 4,702,959 shares during the quarter. Legal & General Group Plc owned about 0.30% of NIO worth $27,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PDS Planning Inc boosted its holdings in NIO by 13.0% in the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock worth $99,000 after acquiring an additional 2,627 shares in the last quarter. Franklin Resources Inc. increased its stake in NIO by 20.4% during the 4th quarter. Franklin Resources Inc. now owns 16,486 shares of the company's stock valued at $72,000 after purchasing an additional 2,788 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in NIO by 24.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company's stock worth $61,000 after buying an additional 2,867 shares during the last quarter. BSW Wealth Partners grew its holdings in shares of NIO by 21.4% during the fourth quarter. BSW Wealth Partners now owns 20,423 shares of the company's stock valued at $89,000 after buying an additional 3,606 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after acquiring an additional 3,607 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of analysts have commented on NIO shares. JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res lowered shares of NIO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Citigroup dropped their price target on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research report on Monday, March 24th. Mizuho reduced their price objective on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Cfra Research raised shares of NIO to a "hold" rating in a research report on Friday, March 21st. One investment 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 company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $5.05.

NIO Stock Performance

Shares of NIO stock traded up $0.01 during trading hours on Tuesday, hitting $3.62. 28,652,805 shares of the company were exchanged, compared to its average volume of 56,280,097. 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 has a market capitalization of $7.55 billion, a price-to-earnings ratio of -2.39 and a beta of 1.74. The firm has a fifty day simple moving average of $4.21 and a 200 day simple moving average of $4.64. Nio Inc - has a 52-week low of $3.02 and a 52-week high of $7.71.

NIO (NYSE:NIO - Get Free Report) last released 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 firm had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $20.19 billion. During the same period in the prior year, the business earned ($2.81) earnings per share. The business's quarterly revenue was up 15.2% compared to the same quarter last year. Research analysts predict that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

NIO Company 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.