Azzad Asset Management Inc. ADV acquired a new position in Nio Inc – (NYSE:NIO – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,760 shares of the company’s stock, valued at approximately $286,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC acquired a new stake in NIO in the 2nd quarter worth $25,000. HighPoint Advisor Group LLC bought a new stake in shares of NIO in the fourth quarter valued at about $93,000. Sound Income Strategies LLC grew its position in NIO by 3,333.3% during the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after buying an additional 10,000 shares in the last quarter. Perigon Wealth Management LLC bought a new position in NIO during the first quarter valued at about $51,000. Finally, Edge Wealth Management LLC acquired a new position in NIO in the 1st quarter valued at approximately $54,000. Institutional investors own 48.55% of the company’s stock.
NIO Price Performance
NYSE:NIO opened at $6.25 on Wednesday. The firm has a market cap of $10.74 billion, a PE ratio of -3.70 and a beta of 1.86. The company’s 50-day moving average price is $4.87 and its two-hundred day moving average price is $4.75. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $9.57.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on NIO. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Citigroup lowered 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. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised shares of 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 report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.93.
Check Out Our Latest Report on NIO
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.
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