Nio Inc – (NYSE:NIO) Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its holdings in shares of Nio Inc – (NYSE:NIO) by 24.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,769 shares of the company’s stock after purchasing an additional 2,867 shares during the period. Perigon Wealth Management LLC’s holdings in NIO were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NIO. Blue Trust Inc. increased its stake in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of NIO during the fourth quarter worth about $79,000. PFG Investments LLC increased its stake in shares of NIO by 66.4% during the fourth quarter. PFG Investments LLC now owns 102,644 shares of the company’s stock worth $448,000 after purchasing an additional 40,967 shares in the last quarter. DGS Capital Management LLC purchased a new stake in shares of NIO during the fourth quarter worth about $81,000. Finally, Firethorn Wealth Partners LLC purchased a new stake in shares of NIO during the fourth quarter worth about $109,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Stock Performance

NIO stock opened at $4.29 on Tuesday. The stock’s 50 day moving average price is $4.43 and its 200 day moving average price is $4.76. The firm has a market capitalization of $8.94 billion, a PE ratio of -2.84 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. Nio Inc – has a one year low of $3.61 and a one year high of $7.71.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.