Nio Inc - (NYSE:NIO) Shares Bought by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co boosted its holdings in shares of Nio Inc - (NYSE:NIO - Free Report) by 28.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,431,771 shares of the company's stock after purchasing an additional 535,400 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.14% of NIO worth $10,950,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NIO. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NIO by 23.4% in 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 purchasing an additional 439,474 shares during the last quarter. Electron Capital Partners LLC raised 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 buying an additional 235,521 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of NIO by 127.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 378,638 shares of the company's stock valued at $1,704,000 after buying an additional 211,936 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of NIO during the first quarter valued at approximately $448,000. Finally, Quadrature Capital Ltd bought a new position in shares of NIO during the fourth quarter valued at approximately $12,361,000. Institutional investors own 48.55% of the company's stock.

Analyst Upgrades and Downgrades

NIO has been the topic of several research analyst reports. Citigroup cut their price objective on NIO from $10.40 to $8.50 and set a "buy" rating on the stock in a research report on Thursday, June 6th. Barclays reaffirmed an "underweight" rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Bank of America raised their target price on shares of NIO from $5.90 to $6.00 and gave the company a "neutral" rating in a research report on Friday, June 7th. JPMorgan Chase & Co. upgraded shares of NIO from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. Finally, Macquarie started coverage on shares of NIO in a research note on Monday, April 15th. They issued a "neutral" rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.55.

NIO Stock Up 3.7 %

Shares of NIO traded up $0.16 during midday trading on Friday, hitting $4.43. 31,863,768 shares of the company's stock traded hands, compared to its average volume of 53,453,184. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of -2.51 and a beta of 1.86. Nio Inc - has a 1 year low of $3.61 and a 1 year high of $16.18. The firm's fifty day moving average is $4.71 and its 200-day moving average is $5.19.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.05). The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. As a group, sell-side analysts anticipate that Nio Inc - will post -1.41 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.