AI Squared Management Ltd Invests $1.10 Million in Nio Inc – (NYSE:NIO)

AI Squared Management Ltd purchased a new position in Nio Inc – (NYSE:NIO) in the fourth quarter, Holdings Channel reports. The fund purchased 120,900 shares of the company’s stock, valued at approximately $1,097,000. NIO accounts for 1.4% of AI Squared Management Ltd’s holdings, making the stock its 13th biggest holding.

Several other institutional investors also recently bought and sold shares of the business. Fisher Asset Management LLC lifted its position in shares of NIO by 183.6% during the 4th quarter. Fisher Asset Management LLC now owns 244,402 shares of the company’s stock valued at $2,217,000 after buying an additional 158,231 shares in the last quarter. Van ECK Associates Corp grew its position in shares of NIO by 9.8% in the fourth quarter. Van ECK Associates Corp now owns 536,774 shares of the company’s stock valued at $4,869,000 after purchasing an additional 47,773 shares during the period. Avaii Wealth Management LLC purchased a new stake in shares of NIO during the fourth quarter worth about $557,000. Headlands Technologies LLC purchased a new stake in shares of NIO during the fourth quarter worth about $2,511,000. Finally, Atria Wealth Solutions Inc. raised its position in shares of NIO by 13.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 46,384 shares of the company’s stock worth $421,000 after purchasing an additional 5,430 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Trading Up 2.5 %

NYSE:NIO traded up $0.13 on Thursday, hitting $5.35. The stock had a trading volume of 27,559,068 shares, compared to its average volume of 56,737,980. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $16.18. The company has a fifty day moving average price of $4.91 and a two-hundred day moving average price of $6.37. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of -3.04 and a beta of 1.92.

NIO (NYSE:NIO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same period last year, the firm earned ($0.51) earnings per share. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Nio Inc – will post -1.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NIO. Jefferies Financial Group lowered their price objective on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Sanford C. Bernstein lowered their price target on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, March 7th. Macquarie started coverage on NIO in a research note on Monday, April 15th. They issued a “neutral” rating and a $5.00 price objective for the company. Bank of America dropped their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, UBS Group lowered their price target on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, NIO presently has an average rating of “Hold” and an average target price of $8.43.

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.