Insigneo Advisory Services LLC Sells 349,250 Shares of Nio Inc - (NYSE:NIO)

Insigneo Advisory Services LLC reduced its position in shares of Nio Inc - (NYSE:NIO - Free Report) by 90.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,115 shares of the company's stock after selling 349,250 shares during the period. Insigneo Advisory Services LLC's holdings in NIO were worth $144,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in NIO in the fourth quarter worth about $9,652,000. Trexquant Investment LP bought a new position in shares of NIO during the fourth quarter valued at approximately $676,000. Qtron Investments LLC bought a new position in shares of NIO during the fourth quarter valued at approximately $535,000. Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of NIO during the fourth quarter valued at approximately $1,849,000. Finally, Azimuth Capital Investment Management LLC bought a new position in shares of NIO during the fourth quarter valued at approximately $273,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Price Performance

Shares of NIO traded up $0.74 during trading hours on Friday, reaching $6.52. 180,982,054 shares of the stock traded hands, compared to its average volume of 54,206,633. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Nio Inc - has a 52-week low of $3.61 and a 52-week high of $9.57. The company's 50-day moving average price is $4.54 and its two-hundred day moving average price is $4.68. The company has a market cap of $11.21 billion, a P/E ratio of -3.86 and a beta of 1.82.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts' consensus estimates of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analysts' expectations of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO's revenue for the quarter was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.51) EPS. On average, analysts anticipate that Nio Inc - will post -1.37 earnings per share for the current year.

Analysts Set New Price Targets

NIO has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. 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 research report on Wednesday, September 4th. 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. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $5.30 to $8.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, NIO currently has an average rating of "Hold" and a consensus target price of $5.93.

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.