Rhumbline Advisers reduced its holdings in shares of Nio Inc – (NYSE:NIO – Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,843 shares of the company’s stock after selling 51,461 shares during the quarter. Rhumbline Advisers’ holdings in NIO were worth $756,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in NIO during the second quarter worth approximately $25,000. HighPoint Advisor Group LLC purchased a new stake in NIO during the fourth quarter worth approximately $93,000. Sound Income Strategies LLC grew its stake in NIO by 3,333.3% during the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after buying an additional 10,000 shares during the period. Perigon Wealth Management LLC purchased a new stake in NIO during the first quarter worth approximately $51,000. Finally, Edge Wealth Management LLC purchased a new stake in NIO during the first quarter worth approximately $54,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.
NIO Trading Up 0.9 %
NYSE NIO opened at $5.33 on Tuesday. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $9.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of -3.15 and a beta of 1.82. The company’s fifty day moving average price is $4.43 and its two-hundred day moving average price is $4.68.
Analysts Set New Price Targets
NIO has been the subject of several research reports. Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Citigroup decreased their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and an average target price of $5.93.
Get 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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