Sumitomo Mitsui Trust Group Inc. Decreases Position in Nio Inc - (NYSE:NIO)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Nio Inc - (NYSE:NIO - Free Report) by 87.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,322 shares of the company's stock after selling 2,929,058 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in NIO were worth $2,834,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Westwood Holdings Group Inc. boosted its stake in shares of NIO by 13.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company's stock worth $75,000 after buying an additional 2,038 shares during the last quarter. Ballentine Partners LLC boosted its position in NIO by 11.5% in the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company's stock worth $160,000 after purchasing an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. boosted its position in NIO by 15.5% in the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock worth $129,000 after purchasing an additional 2,588 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in NIO by 22.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock valued at $61,000 after purchasing an additional 2,651 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of NIO by 4.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company's stock valued at $262,000 after purchasing an additional 2,915 shares during the last quarter. Institutional investors own 48.55% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NIO shares. Bank of America raised their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Macquarie raised shares of NIO from a "neutral" rating to an "outperform" rating and set a $6.60 price target on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised NIO from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $5.30 to $8.00 in a report on Friday, September 6th. Daiwa America raised NIO to a "strong-buy" rating in a research report on Monday, September 30th. Finally, Citigroup dropped their price target on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $6.11.

NIO Trading Down 0.9 %

Shares of NIO traded down $0.04 during trading hours on Tuesday, hitting $4.63. The company had a trading volume of 80,292,984 shares, compared to its average volume of 56,692,941. The firm has a market cap of $7.96 billion, a P/E ratio of -3.03 and a beta of 1.91. Nio Inc - has a 52-week low of $3.61 and a 52-week high of $9.57. The stock's 50 day moving average price is $5.55 and its 200 day moving average price is $4.92. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The business's revenue was up 98.9% on a year-over-year basis. On average, research analysts predict 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.