Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Nio Inc – (NYSE:NIO – Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $108,000.
A number of other large investors have also recently bought and sold shares of NIO. Norges Bank acquired a new stake in NIO during the 4th quarter valued at $155,344,000. Two Sigma Investments LP purchased a new position in shares of NIO during the 1st quarter worth $71,533,000. Renaissance Technologies LLC lifted its stake in shares of NIO by 2,377.8% during the 1st quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock worth $113,704,000 after purchasing an additional 5,183,600 shares during the period. BlackRock Inc. lifted its stake in shares of NIO by 7.8% during the 2nd quarter. BlackRock Inc. now owns 66,794,714 shares of the company’s stock worth $647,241,000 after purchasing an additional 4,835,232 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of NIO by 90.3% during the 1st quarter. Bank of America Corp DE now owns 6,499,102 shares of the company’s stock worth $68,306,000 after purchasing an additional 3,083,955 shares during the period. Institutional investors and hedge funds own 42.32% of the company’s stock.
NIO Trading Down 4.0 %
Shares of NIO stock opened at $6.29 on Thursday. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of -3.48 and a beta of 2.01. The firm’s 50 day moving average price is $7.77 and its two-hundred day moving average price is $9.36. Nio Inc – has a fifty-two week low of $6.12 and a fifty-two week high of $16.18. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 0.76.
Analyst Ratings Changes
A number of research analysts have weighed in on NIO shares. Mizuho reduced their price target on NIO from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 6th. The Goldman Sachs Group assumed coverage on NIO in a research report on Wednesday, January 3rd. They set a “neutral” rating for the company. Finally, Bank of America downgraded shares of NIO from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.75.
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.
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