Rakuten Securities Inc. acquired a new stake in shares of Nio Inc – (NYSE:NIO – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,216 shares of the company’s stock, valued at approximately $38,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in NIO in the fourth quarter valued at $33,000. Peoples Bank KS bought a new stake in NIO in the third quarter valued at $46,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in NIO by 592.2% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 6,839 shares of the company’s stock valued at $67,000 after acquiring an additional 5,851 shares during the period. Wahed Invest LLC grew its position in NIO by 10.0% in the second quarter. Wahed Invest LLC now owns 9,339 shares of the company’s stock valued at $90,000 after acquiring an additional 848 shares during the period. Finally, Fountainhead AM LLC bought a new stake in NIO in the third quarter valued at $91,000. 48.55% of the stock is currently owned by institutional investors.
NIO Stock Performance
Shares of NIO opened at $3.99 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51. Nio Inc – has a 12-month low of $3.71 and a 12-month high of $16.18. The stock’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $6.74.
Analyst Ratings Changes
Several analysts have recently commented on the company. Jefferies Financial Group decreased their target price on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Sanford C. Bernstein decreased their target price on NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Macquarie assumed coverage on NIO in a report on Monday. They set a “neutral” rating and a $5.00 target price on the stock. The Goldman Sachs Group assumed coverage on NIO in a report on Wednesday, January 3rd. They set a “neutral” rating on the stock. Finally, Bank of America decreased their target price on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.43.
Check Out Our Latest Analysis on NIO
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.
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