Norges Bank Investment Management recently announced the acquisition of new stake in NIO Inc ADR (NYSE:NIO). The institutional investor has increased its shareholding in the Consumer Cyclical company by 5.19% to 15.93 million shares with purchase of 0.79 million shares. This fresh investment now brings its stake to 1.01% valued currently at $115.83 million. In addition, Geode Capital Management LLC raised its holdings by 0.31 million to 7.11 million shares. And UBS Asset Management Switzerland has lifted its position by 39.90% or 1.67 million shares – to 5.86 million shares.
With over 74.26 million NIO Inc ADR (NIO) shares trading Friday and a closing price of $9.07 on the day, the dollar volume was approximately $673.56 million. The shares have shown a negative half year performance of -6.40% and its price on 12/29/23 lost nearly -3.82%. Currently, there are 1.57B common shares owned by the public and among those 1.57B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 33 analysts who have offered their price forecasts for NIO have a consensus price objective of $80.58. The analysts have set the share’s price value over the next 12 months at a high of $146.06 and a low of $35.21. The average price target is 12.62% above its recent price level and an upside to the estimated low will see the stock gain 74.24% over that period. But an upside of 93.79% will see the stock hit the forecast high price target while median target price for the stock is $79.79.
The top 3 mutual fund holders in NIO Inc ADR are Vanguard International Growth Fun, Scottish Mortgage Investment Trus, and Government Pension Fund – Global. Vanguard International Growth Fun owns 38.61 million shares of the company’s stock, all valued at over $280.7 million. Government Pension Fund – Global bought 2.12 million shares to bring its total holdings to over 17.01 million shares at a value of $123.68 million. Government Pension Fund – Global now owns shares totaling to 1.08% of the shares outstanding.
However, the script later moved the day high at 9.53, down -3.82%. The company’s stock has a 5-day price change of 9.41% and 0.33% over the past three months. NIO shares are trading -6.97% year to date (YTD), with the 12-month market performance down to -7.45% lower. It has a 12-month low price of $7.00 and touched a high of $16.18 over the same period. NIO has an average intraday trading volume of 49.25 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 13.61%, 17.10%, and -1.22% respectively.
Institutional ownership of NIO Inc ADR (NYSE: NIO) shares accounts for 28.07% of the company’s 1.57B shares outstanding. Mutual fund holders own 13.29%, while other institutional holders and individual stakeholders account for 15.22% and — respectively.
It has a market capitalization of $14.25B and a beta (3y monthly) value of 2.02. The earnings-per-share (ttm) stands at -$1.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.39% over the week and 5.85% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -46.51%, and 34.64% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 33 brokerage firm advisors rate NIO Inc ADR (NIO) as a “Strong Buy” at a consensus score of 1.76. Specifically, 20 Wall Street analysts polled rate the stock as a buy, while 9 of the 33 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the NIO, a number of firms have released research notes about the stock. Nomura stated their Neutral rating for the stock in a research note on June 12, 2023, with the firm’s price target at $25.80-$7.50.
