Swiss National Bank Sells 2,075,048 Shares of Nio Inc - (NYSE:NIO)

Swiss National Bank lessened its position in Nio Inc - (NYSE:NIO - Free Report) by 67.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,005,483 shares of the company's stock after selling 2,075,048 shares during the period. Swiss National Bank owned approximately 0.06% of NIO worth $6,717,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NIO. Ridgewood Investments LLC bought a new stake in NIO in the second quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the third quarter valued at approximately $32,000. Baader Bank Aktiengesellschaft acquired a new position in shares of NIO in the second quarter valued at approximately $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock valued at $61,000 after buying an additional 2,651 shares during the period. Finally, Caprock Group LLC acquired a new position in shares of NIO in the second quarter valued at approximately $63,000. Institutional investors own 48.55% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a report on Thursday, September 5th. Citigroup reduced their price target on shares of NIO from $8.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Macquarie cut shares of NIO from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Wolfe Research began coverage on shares of NIO in a report on Thursday, September 5th. They set a "peer perform" rating for the company. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.71.

NIO Trading Down 7.4 %

Shares of NIO stock opened at $4.33 on Wednesday. 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 company has a fifty day moving average price of $5.48 and a two-hundred day moving average price of $4.89. Nio Inc - has a one year low of $3.61 and a one year high of $9.57.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) EPS for the quarter, meeting analysts' consensus estimates of ($2.21). The firm had revenue of $17.45 billion during the quarter, compared to analysts' expectations of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company's revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.51) earnings per share. On average, research analysts anticipate that Nio Inc - will post -1.39 earnings per share for the current year.

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.