MML Investors Services LLC Reduces Position in Nio Inc – (NYSE:NIO)

MML Investors Services LLC decreased its holdings in shares of Nio Inc – (NYSE:NIO) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,117 shares of the company’s stock after selling 6,276 shares during the period. MML Investors Services LLC’s holdings in NIO were worth $128,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NIO. Renaissance Technologies LLC acquired a new stake in NIO in the second quarter valued at about $1,076,000. International Assets Investment Management LLC boosted its holdings in NIO by 580.9% during the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares in the last quarter. FMR LLC boosted its holdings in NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after buying an additional 5,296,601 shares in the last quarter. Main Management ETF Advisors LLC purchased a new position in NIO in the 3rd quarter valued at approximately $1,327,000. Finally, Signaturefd LLC boosted its position in shares of NIO by 16.9% in the 3rd quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after buying an additional 7,014 shares in the last quarter. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Stock Performance

NYSE:NIO opened at $4.48 on Friday. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $9.57. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -2.97 and a beta of 1.77. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm’s fifty day simple moving average is $4.80 and its 200 day simple moving average is $4.80.

Wall Street Analyst Weigh In

NIO has been the subject of several recent research reports. Citigroup dropped their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised 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. Daiwa America raised NIO to a “strong-buy” rating in a research report on Monday, September 30th. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Two equities 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.71.

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.