HighTower Advisors LLC Has $601,000 Position in Nio Inc – (NYSE:NIO)

HighTower Advisors LLC lessened its stake in Nio Inc – (NYSE:NIO) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 90,381 shares of the company’s stock after selling 9,368 shares during the quarter. HighTower Advisors LLC’s holdings in NIO were worth $601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the third quarter worth $32,000. Ridgewood Investments LLC purchased a new position in NIO in the second quarter valued at about $25,000. First Trust Direct Indexing L.P. acquired a new position in NIO in the 3rd quarter worth about $76,000. Apollon Wealth Management LLC purchased a new stake in shares of NIO during the 3rd quarter worth about $78,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of NIO during the 3rd quarter valued at about $92,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NIO shares. Wolfe Research began coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Citigroup cut their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.71.

NIO Stock Performance

NIO opened at $4.40 on Friday. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $9.57. The firm has a market capitalization of $7.56 billion, a P/E ratio of -2.91 and a beta of 1.77. The stock’s 50 day moving average price is $4.94 and its two-hundred day moving average price is $4.82. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

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.