Nio Inc - (NYSE:NIO) Position Reduced by APG Asset Management N.V.

APG Asset Management N.V. trimmed its holdings in Nio Inc - (NYSE:NIO - Free Report) by 34.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 286,390 shares of the company's stock after selling 149,251 shares during the period. APG Asset Management N.V.'s holdings in NIO were worth $1,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NIO. Point72 Asset Management L.P. boosted its position 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 acquiring an additional 4,018,659 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of NIO in the fourth quarter valued at about $12,361,000. Swedbank AB purchased a new stake in shares of NIO during the first quarter valued at approximately $5,343,000. Norges Bank acquired a new position in shares of NIO during the fourth quarter worth $9,652,000. Finally, AMF Tjanstepension AB boosted its stake in shares of NIO by 132.4% in the first quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company's stock valued at $7,030,000 after purchasing an additional 889,900 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

Wall Street Analyst Weigh In

NIO has been the topic of several analyst reports. Bank of America lifted their price target on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a research note on Thursday, September 5th. Wolfe Research initiated coverage on NIO in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and upped their target price for the company from $5.30 to $8.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.93.

NIO Stock Performance

Shares of NIO stock traded up $0.35 during trading on Tuesday, hitting $7.03. 145,915,889 shares of the stock were exchanged, compared to its average volume of 55,540,668. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11. Nio Inc - has a 12 month low of $3.61 and a 12 month high of $9.57. The stock's fifty day moving average is $4.58 and its 200 day moving average is $4.68. The stock has a market cap of $12.09 billion, a PE ratio of -4.16 and a beta of 1.82.

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