Main Management ETF Advisors LLC Takes $1.33 Million Position in Nio Inc – (NYSE:NIO)

Main Management ETF Advisors LLC bought a new position in shares of Nio Inc – (NYSE:NIO) in the third quarter, HoldingsChannel.com reports. The firm bought 198,656 shares of the company’s stock, valued at approximately $1,327,000.

Other hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in shares of NIO in the 2nd quarter valued at about $25,000. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the 3rd quarter worth approximately $32,000. Baader Bank Aktiengesellschaft purchased a new stake in NIO during the second quarter valued at approximately $53,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in NIO by 22.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock valued at $61,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in NIO in the second quarter worth $63,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NIO shares. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Citigroup decreased their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Bank of America upped their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NIO presently has an average rating of “Hold” and an average price target of $5.71.

NIO Price Performance

NIO opened at $4.62 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $9.57. The firm has a 50 day moving average of $5.28 and a two-hundred day moving average of $4.85.

NIO (NYSE:NIO) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 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 98.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) earnings per share. On average, equities research analysts expect that Nio Inc – will post -1.39 earnings per share for the current fiscal year.

About NIO

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.