Investment House LLC Has $4.84 Million Stock Position in Nio Inc – (NYSE:NIO)
Investment House LLC trimmed its stake in shares of Nio Inc – (NYSE:NIO) by 22.0% during the fourth quarter, Holdings Channel reports. The firm owned 99,258 shares of the company’s stock after selling 28,000 shares during the period. Investment House LLC’s holdings in NIO were worth $4,838,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NIO. FMR LLC acquired a new stake in NIO during the first quarter valued at approximately $240,000. First Trust Advisors LP boosted its holdings in NIO by 89.5% during the first quarter. First Trust Advisors LP now owns 293,968 shares of the company’s stock valued at $1,499,000 after purchasing an additional 138,827 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in NIO by 42.6% during the second quarter. Bank of New York Mellon Corp now owns 1,520,864 shares of the company’s stock valued at $11,741,000 after purchasing an additional 453,999 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in NIO by 25.6% during the second quarter. Advisor Group Holdings Inc. now owns 189,753 shares of the company’s stock valued at $1,464,000 after purchasing an additional 38,713 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in NIO by 46.1% during the second quarter. APG Asset Management N.V. now owns 249,900 shares of the company’s stock valued at $1,718,000 after purchasing an additional 78,800 shares in the last quarter.
NYSE NIO traded up $0.11 on Wednesday, reaching $62.15. The company had a trading volume of 115,318,508 shares, compared to its average volume of 181,858,359. The firm has a market capitalization of $63.77 billion, a price-to-earnings ratio of -66.88 and a beta of 2.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.33 and a current ratio of 2.42. Nio Inc – has a 1-year low of $2.11 and a 1-year high of $66.99. The company’s fifty day moving average is $48.74 and its 200-day moving average is $28.23.
A number of equities research analysts have weighed in on NIO shares. Bank of America lifted their price objective on NIO from $59.00 to $70.00 and gave the company a “buy” rating in a report on Monday. HSBC initiated coverage on NIO in a report on Friday, October 30th. They issued a “hold” rating and a $30.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded NIO from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $46.40 to $68.30 in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on NIO from $34.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 19th. Finally, Daiwa Capital Markets initiated coverage on NIO in a report on Monday, December 14th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.01.
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.
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