180 Wealth Advisors LLC lessened its holdings in shares of NIO Inc. (NYSE:NIO – Free Report) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,627 shares of the company’s stock after selling 4,216 shares during the quarter. 180 Wealth Advisors LLC’s holdings in NIO were worth $307,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NIO by 3,966.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company’s stock valued at $20,255,000 after purchasing an additional 5,185,565 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of NIO in the 2nd quarter valued at about $12,315,000. Vontobel Holding Ltd. raised its stake in shares of NIO by 125.2% in the 2nd quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company’s stock valued at $3,754,000 after purchasing an additional 608,377 shares during the period. Hsbc Holdings PLC raised its stake in shares of NIO by 96.6% in the 1st quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company’s stock valued at $3,964,000 after purchasing an additional 510,610 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of NIO by 18.0% in the 1st quarter. American Century Companies Inc. now owns 702,772 shares of the company’s stock valued at $2,678,000 after purchasing an additional 107,239 shares during the period. Institutional investors and hedge funds own 48.55% of the company’s stock.
NIO Price Performance
Shares of NYSE NIO opened at $6.91 on Friday. NIO Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $8.02. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of -4.32 and a beta of 1.30. The business has a 50-day moving average of $6.72 and a 200-day moving average of $4.91.
Analysts Set New Price Targets
Several analysts have issued reports on the company. UBS Group raised NIO from a “neutral” rating to a “buy” rating and lifted their price target for the company from $6.20 to $8.50 in a research note on Tuesday, September 16th. Mizuho raised their price objective on NIO from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Citigroup raised their price objective on NIO from $8.10 to $8.60 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded NIO from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NIO in a report on Saturday. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.35.
Check Out Our Latest Stock Analysis on NIO
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.
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