Handelsbanken Fonder AB increased its holdings in shares of Nio Inc – (NYSE:NIO – Free Report) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,681 shares of the company’s stock after acquiring an additional 36,482 shares during the period. Handelsbanken Fonder AB’s holdings in NIO were worth $3,799,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in shares of NIO during the second quarter worth $25,000. Sound Income Strategies LLC increased its position in NIO by 3,333.3% in the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after acquiring an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of NIO in the first quarter worth about $51,000. Baader Bank Aktiengesellschaft bought a new position in shares of NIO in the second quarter worth about $53,000. Finally, Edge Wealth Management LLC acquired a new position in shares of NIO during the first quarter worth approximately $54,000. 48.55% of the stock is owned by institutional investors and hedge funds.
NIO Trading Down 8.0 %
NIO opened at $6.25 on Wednesday. The firm’s fifty day moving average is $4.87 and its two-hundred day moving average is $4.75. The firm has a market cap of $10.74 billion, a PE ratio of -3.70 and a beta of 1.86. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.11.
Wall Street Analyst Weigh In
Several research firms recently weighed in on NIO. 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 report on Thursday, September 5th. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research began coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.93.
View 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.
Featured Stories
- Five stocks we like better than NIO
- What Is WallStreetBets and What Stocks Are They Targeting?
- NVIDIA’s AI Dominance: Why Analysts Predict Major Upside Ahead
- Why Invest in 5G? How to Invest in 5G Stocks
- These Stocks Are Using Buybacks to Unlock Big Gains for Investors
- Insider Buying Explained: What Investors Need to Know
- This Is the Entry Into PepsiCo You’ve Been Waiting For
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.