Nio Inc - (NYSE:NIO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in Nio Inc - (NYSE:NIO - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,066,106 shares of the company's stock after selling 3,428,594 shares during the period. Renaissance Technologies LLC owned about 0.43% of NIO worth $39,528,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NIO. Toronto Dominion Bank grew its holdings in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock worth $883,000 after acquiring an additional 132,237 shares in the last quarter. Sanctuary Advisors LLC lifted its position in NIO by 63.1% during the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after acquiring an additional 32,069 shares during the last quarter. Tidal Investments LLC boosted its stake in NIO by 2.4% in the third quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock valued at $1,871,000 after acquiring an additional 6,545 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new position in NIO in the third quarter worth $374,000. Finally, Principal Financial Group Inc. increased its position in shares of NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock worth $502,000 after purchasing an additional 43,839 shares in the last quarter. 48.55% of the stock is currently owned by institutional investors.

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NIO Stock Performance

NIO traded down $0.02 on Tuesday, reaching $3.60. The stock had a trading volume of 12,775,500 shares, compared to its average volume of 56,219,731. The business's 50-day moving average price is $4.22 and its two-hundred day moving average price is $4.65. The company has a market cap of $7.50 billion, a P/E ratio of -2.38 and a beta of 1.74. Nio Inc - has a 12-month low of $3.02 and a 12-month high of $7.71. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings data on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). The business had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.81) earnings per share. Sell-side analysts forecast that Nio Inc - will post -1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NIO has been the topic of several recent analyst reports. HSBC lowered NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Mizuho lowered their target price on shares of NIO from $4.20 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered shares of NIO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup lowered their price target on NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.05.

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.