Mirae Asset Global Investments Co. Ltd. Sells 9,693 Shares of Nio Inc – (NYSE:NIO)

Mirae Asset Global Investments Co. Ltd. decreased its position in Nio Inc – (NYSE:NIO) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,915 shares of the company’s stock after selling 9,693 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NIO were worth $975,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after buying an additional 3,607 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in NIO in the 3rd quarter valued at approximately $32,000. U.S. Capital Wealth Advisors LLC purchased a new stake in NIO during the 4th quarter valued at $53,000. Perigon Wealth Management LLC increased its holdings in shares of NIO by 24.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock worth $61,000 after purchasing an additional 2,867 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of NIO in the third quarter worth $76,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NIO has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $4.80 to $3.90 in a report on Monday, November 25th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, HSBC downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.38.

NIO Stock Down 6.8 %

NIO stock opened at $4.04 on Wednesday. The business’s 50-day moving average price is $4.40 and its 200-day moving average price is $4.75. The stock has a market cap of $8.42 billion, a P/E ratio of -2.67 and a beta of 1.69. 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 Inc – has a twelve month low of $3.61 and a twelve month high of $7.71.

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.