Sigma Planning Corp trimmed its holdings in Nio Inc – (NYSE:NIO) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,796 shares of the company’s stock after selling 6,626 shares during the quarter. Sigma Planning Corp’s holdings in NIO were worth $2,596,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Deutsche Bank AG grew its position in NIO by 56.6% in the 2nd quarter. Deutsche Bank AG now owns 5,850,309 shares of the company’s stock valued at $311,236,000 after buying an additional 2,114,782 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of NIO during the 2nd quarter worth $6,942,000. Panagora Asset Management Inc. boosted its position in shares of NIO by 3.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 177,568 shares of the company’s stock worth $9,447,000 after purchasing an additional 6,438 shares in the last quarter. Avidian Wealth Solutions LLC purchased a new stake in shares of NIO during the 2nd quarter worth $205,000. Finally, Gulf International Bank UK Ltd boosted its position in shares of NIO by 9.2% during the 1st quarter. Gulf International Bank UK Ltd now owns 201,411 shares of the company’s stock worth $7,851,000 after purchasing an additional 17,000 shares in the last quarter. 29.41% of the stock is currently owned by institutional investors and hedge funds.
NIO opened at $36.24 on Thursday. The company has a market cap of $56.86 billion, a PE ratio of -42.63 and a beta of 2.50. Nio Inc – has a 1 year low of $23.73 and a 1 year high of $66.99. The firm has a 50 day moving average price of $38.08 and a 200 day moving average price of $40.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.38 and a current ratio of 2.48.
Several brokerages have commented on NIO. HSBC decreased their target price on shares of NIO from $69.00 to $47.00 and set a “buy” rating on the stock in a research report on Sunday, September 26th. The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Thursday, October 7th. Finally, Citigroup reiterated a “neutral” rating on shares of NIO in a research report on Thursday, August 12th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $63.82.
NIO Company 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.
Further Reading: CBOE Russell 2000® Volatility Index
Want to see what other hedge funds are holding NIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nio Inc – (NYSE:NIO).
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.