Nio Inc - (NYSE:NIO) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Nio Inc - (NYSE:NIO - Free Report) by 27.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 957,792 shares of the company's stock after selling 355,807 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of NIO worth $4,310,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NIO. Hsbc Holdings PLC boosted its holdings in NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company's stock valued at $64,070,000 after acquiring an additional 4,976,403 shares during the period. Electron Capital Partners LLC boosted its holdings in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company's stock valued at $40,180,000 after acquiring an additional 235,521 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company's stock valued at $10,430,000 after acquiring an additional 439,474 shares during the period. SG Americas Securities LLC boosted its holdings in NIO by 64.6% during the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company's stock valued at $8,530,000 after acquiring an additional 744,067 shares during the period. Finally, AMF Tjanstepension AB lifted its holdings in shares of NIO by 132.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company's stock worth $7,030,000 after buying an additional 889,900 shares during the period. 48.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on NIO. Macquarie began coverage on NIO in a report on Monday, April 15th. They issued a "neutral" rating and a $5.00 target price for the company. Barclays reiterated an "underweight" rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Bank of America upped their target price on NIO from $5.90 to $6.00 and gave the stock a "neutral" rating in a report on Friday, June 7th. JPMorgan Chase & Co. upgraded NIO from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Finally, Citigroup lowered their target price on NIO from $10.40 to $8.50 and set a "buy" rating for the company in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $7.55.

NIO Stock Down 3.9 %

NYSE:NIO traded down $0.18 during mid-day trading on Wednesday, hitting $4.31. 43,075,516 shares of the company's stock traded hands, compared to its average volume of 53,699,348. The company has a fifty day moving average of $4.75 and a 200 day moving average of $5.20. Nio Inc - has a twelve month low of $3.61 and a twelve month high of $16.18. The company has a market capitalization of $7.40 billion, a P/E ratio of -2.57 and a beta of 1.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15.

NIO (NYSE:NIO - Get Free Report) last announced its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, analysts forecast that Nio Inc - will post -1.41 EPS for the current year.

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.