Rockefeller Capital Management L.P. Sells 109,288 Shares of Nio Inc – (NYSE:NIO)

Rockefeller Capital Management L.P. decreased its stake in shares of Nio Inc – (NYSE:NIO) by 61.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,495 shares of the company’s stock after selling 109,288 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in NIO were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NIO. Point72 Asset Management L.P. boosted its stake in NIO by 164.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. FMR LLC raised its holdings in NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Krane Funds Advisors LLC raised its holdings in NIO by 31.7% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,538,781 shares of the company’s stock valued at $6,401,000 after acquiring an additional 370,556 shares during the period. Bank of New York Mellon Corp raised its holdings in NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in NIO by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,303,549 shares of the company’s stock valued at $5,742,000 after acquiring an additional 3,548 shares during the period. 48.55% of the stock is owned by institutional investors.

NIO Price Performance

Shares of NIO opened at $4.78 on Wednesday. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average of $5.20 and a 200 day moving average of $4.84. The company has a market capitalization of $8.21 billion, a P/E ratio of -3.16 and a beta of 1.77.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NIO. Bank of America upped their price target on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Wolfe Research initiated coverage on shares of NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $5.30 to $8.00 in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.71.

About NIO

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.