Geode Capital Management LLC Sells 7,417,861 Shares of Nio Inc – (NYSE:NIO)

Geode Capital Management LLC reduced its holdings in shares of Nio Inc – (NYSE:NIO) by 94.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 467,564 shares of the company’s stock after selling 7,417,861 shares during the period. Geode Capital Management LLC’s holdings in NIO were worth $3,123,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Main Management ETF Advisors LLC bought a new stake in shares of NIO during the third quarter worth $1,327,000. XTX Topco Ltd bought a new stake in NIO during the 3rd quarter valued at about $1,178,000. Quadrature Capital Ltd boosted its position in NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after buying an additional 538,907 shares during the period. Hilltop Holdings Inc. bought a new position in NIO in the 3rd quarter worth about $130,000. Finally, Garden State Investment Advisory Services LLC purchased a new position in shares of NIO during the third quarter worth approximately $377,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Trading Up 1.5 %

NYSE:NIO opened at $4.70 on Tuesday. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of -3.11 and a beta of 1.70. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $8.05. 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 $4.69 and a 200 day moving average of $4.81.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and cut their price target for the company from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.71.

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.