Main Management ETF Advisors LLC Makes New Investment in Nio Inc - (NYSE:NIO)

Main Management ETF Advisors LLC acquired a new stake in Nio Inc - (NYSE:NIO - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 198,656 shares of the company's stock, valued at approximately $1,327,000.

Several other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of NIO by 164.3% in the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company's stock worth $26,891,000 after buying an additional 4,018,659 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in NIO during the third quarter worth about $4,879,000. Quadrature Capital Ltd raised its position in NIO by 32.3% during the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company's stock valued at $14,756,000 after acquiring an additional 538,907 shares in the last quarter. Finally, Krane Funds Advisors LLC lifted its holdings in NIO by 31.7% in the second quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company's stock valued at $6,401,000 after acquiring an additional 370,556 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NIO. Wolfe Research started coverage on shares of NIO in a research note on Thursday, September 5th. They set a "peer perform" rating on the stock. Bank of America raised their price target on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a research report on Thursday, September 5th. Macquarie downgraded shares of NIO from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Daiwa America upgraded NIO to a "strong-buy" rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and cut their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIO currently has a consensus rating of "Hold" and a consensus price target of $5.71.

NIO Price Performance

Shares of NIO stock remained flat at $4.61 during mid-day trading on Friday. The company's stock had a trading volume of 44,028,266 shares, compared to its average volume of 54,740,800. The company has a fifty day moving average price of $5.28 and a 200-day moving average price of $4.85. Nio Inc - has a fifty-two week low of $3.61 and a fifty-two week high of $9.57. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the prior year, the company earned ($0.51) EPS. The firm's revenue was up 98.9% compared to the same quarter last year. As a group, analysts predict that Nio Inc - will post -1.39 EPS 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.