Ovata Capital Management Ltd Purchases Shares of 51,104 Nio Inc – (NYSE:NIO)

Ovata Capital Management Ltd acquired a new position in shares of Nio Inc – (NYSE:NIO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,104 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NIO. Fisher Asset Management LLC lifted its holdings in NIO by 183.6% in the fourth 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 during the period. Principal Securities Inc. acquired a new position in shares of NIO in the 4th quarter valued at about $42,000. Calton & Associates Inc. bought a new stake in shares of NIO during the 4th quarter valued at about $92,000. AGF Management Ltd. acquired a new stake in NIO during the fourth quarter worth approximately $370,000. Finally, Jump Financial LLC increased its holdings in NIO by 52.5% in the fourth quarter. Jump Financial LLC now owns 48,556 shares of the company’s stock worth $440,000 after purchasing an additional 16,716 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NIO. Wolfe Research assumed coverage on NIO in a report on Thursday. They set a “peer perform” rating on the stock. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.68.

NIO Stock Up 14.4 %

Shares of NYSE:NIO opened at $4.85 on Friday. Nio Inc – has a 1 year low of $3.61 and a 1 year high of $10.91. The company has a market capitalization of $8.34 billion, a PE ratio of -2.87 and a beta of 1.82. The business has a fifty day moving average price of $4.25 and a two-hundred day moving average price of $4.72. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.21). The business 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 39.38% and a negative return on equity of 111.91%. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.51) earnings per share. Analysts forecast that Nio Inc – will post -1.43 earnings per share for the current year.

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.