Baillie Gifford & Co. recently announced the acquisition of new stake in NIO Inc. (NYSE:NIO). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.05% to 96.78 million shares with purchase of 50039.0 shares. This fresh investment now brings its stake to 6.27% valued currently at $935.87 million. In addition, BlackRock Fund Advisors raised its holdings by 0.34 million to 40.66 million shares. And The Vanguard Group, Inc. has lifted its position by 1.20% or 0.47 million shares – to 39.33 million shares.
With over 49.03 million NIO Inc. (NIO) shares trading Friday and a closing price of $10.47 on the day, the dollar volume was approximately $513.38 million. The shares have shown a negative half year performance of -36.31% and its price on 11/18/22 lost nearly -1.87%. Currently, there are 1.64B common shares owned by the public and among those 1.51B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 40 analysts who have offered their price forecasts for NIO have a consensus price objective of $134.90. The analysts have set the share’s price value over the next 12 months at a high of $246.42 and a low of $55.42. The average price target is 50.75% above its recent price level and an upside to the estimated low will see the stock gain 81.11% over that period. But an upside of 95.75% will see the stock hit the forecast high price target while median target price for the stock is $119.66.
The top 3 mutual fund holders in NIO Inc. are Vanguard International Growth Fun, Scottish Mortgage Investment Trus, and Vanguard Emerging Markets Stock I. Vanguard International Growth Fun owns 30.56 million shares of the company’s stock, all valued at over $295.49 million. Vanguard Emerging Markets Stock I now owns shares totaling to 1.18% of the shares outstanding.
Shares of NIO Inc. (NYSE: NIO) opened at $10.65, down -$0.02 from a prior closing price of $10.67. However, the script later moved the day high at 10.81, down -1.87%. The company’s stock has a 5-day price change of -9.43% and -44.75% over the past three months. NIO shares are trading -66.95% year to date (YTD), with the 12-month market performance down to -72.74% lower. It has a 12-month low price of $8.38 and touched a high of $43.12 over the same period. NIO has an average intraday trading volume of 56.27 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.27%, -25.32%, and -42.68% respectively.
Institutional ownership of NIO Inc. (NYSE: NIO) shares accounts for 35.80% of the company’s 1.64B shares outstanding. Mutual fund holders own 15.64%, while other institutional holders and individual stakeholders account for 18.65% and — respectively.
It has a market capitalization of $17.82B and a beta (3y monthly) value of 1.73. The earnings-per-share (ttm) stands at -$0.93. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.00% over the week and 9.33% over the month.
Analysts forecast that NIO Inc. (NIO) will achieve an EPS of -$0.16 for the current quarter, -$0.11 for the next quarter and -$0.21 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.19 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.28 a year ago.
Specifically, 27 Wall Street analysts polled rate the stock as a buy, while 6 of the 40 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NIO, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on November 17, 2022, with the firm’s price target at $32-$13. China Renaissance coverage for the NIO Inc. (NIO) stock in a research note released on November 14, 2022 offered a Hold rating with a price target of $12.30. BofA Securities was of a view on May 16, 2022 that the stock is Buy, while UBS gave the stock Buy rating on April 04, 2022, issuing a price target of $42- $32. China Renaissance on their part issued Buy rating on March 24, 2022.