NIO Inc. $NIO Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in shares of NIO Inc. (NYSE:NIO) by 31.6% in the fourth quarter, HoldingsChannel reports. The firm owned 375,103 shares of the company’s stock after selling 173,097 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in NIO were worth $1,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aspex Management HK Ltd bought a new stake in shares of NIO during the 3rd quarter worth about $266,700,000. WT Asset Management Ltd bought a new stake in shares of NIO in the 3rd quarter worth approximately $142,120,000. Ghisallo Capital Management LLC bought a new stake in shares of NIO in the 3rd quarter worth approximately $91,440,000. Voloridge Investment Management LLC bought a new stake in shares of NIO in the 3rd quarter worth approximately $89,952,000. Finally, RWC Asset Advisors US LLC bought a new stake in shares of NIO in the 3rd quarter worth approximately $79,761,000. 48.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on NIO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.80 to $6.80 in a report on Friday, March 13th. Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price target on the stock in a report on Wednesday, March 11th. Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a report on Thursday, January 15th. Finally, Bank of America restated a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.80.

NIO Stock Up 3.5%

NIO stock opened at $6.06 on Tuesday. NIO Inc. has a 52-week low of $3.34 and a 52-week high of $8.02. The company’s 50 day simple moving average is $5.91 and its 200-day simple moving average is $5.56. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.98 and a quick ratio of 0.87. The firm has a market capitalization of $13.91 billion, a P/E ratio of -6.24 and a beta of 0.97.

NIO (NYSE:NIO) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. NIO had a negative net margin of 17.21% and a negative return on equity of 924.56%. The business had revenue of $4.95 billion for the quarter. As a group, equities research analysts anticipate that NIO Inc. will post -0.28 EPS for the current year.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.