CANADA LIFE ASSURANCE Co Purchases 535,400 Shares of Nio Inc – (NYSE:NIO)

CANADA LIFE ASSURANCE Co increased its position in shares of Nio Inc – (NYSE:NIO) by 28.2% during the first quarter, Holdings Channel reports. The institutional investor owned 2,431,771 shares of the company’s stock after purchasing an additional 535,400 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in NIO were worth $10,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bfsg LLC bought a new stake in shares of NIO during the fourth quarter valued at approximately $33,000. Rakuten Securities Inc. bought a new stake in NIO during the 4th quarter valued at $38,000. Principal Securities Inc. acquired a new position in NIO during the fourth quarter worth $42,000. Newbridge Financial Services Group Inc. lifted its stake in shares of NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after buying an additional 6,875 shares in the last quarter. Finally, Calton & Associates Inc. acquired a new position in shares of NIO during the fourth quarter valued at about $92,000. Institutional investors own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays restated an “underweight” rating and issued a $4.00 target price (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Macquarie began coverage on NIO in a report on Monday, April 15th. They issued a “neutral” rating and a $5.00 target price on the stock. Citigroup cut their target price on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Bank of America increased their price target on NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, JPMorgan Chase & Co. raised shares of NIO from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, NIO has an average rating of “Hold” and a consensus price target of $7.55.

NIO Stock Down 0.3 %

Shares of NIO stock opened at $4.29 on Friday. The stock has a fifty day moving average price of $4.72 and a 200-day moving average price of $5.19. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. Nio Inc – has a 1 year low of $3.61 and a 1 year high of $16.18.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, analysts anticipate that Nio Inc – will post -1.41 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.