Marathon Asset Management LP Decreases Stock Holdings in NIO Inc. $NIO

Marathon Asset Management LP reduced its stake in shares of NIO Inc. (NYSE:NIO) by 60.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the company’s stock after selling 300,000 shares during the quarter. NIO accounts for approximately 2.0% of Marathon Asset Management LP’s portfolio, making the stock its 13th largest holding. Marathon Asset Management LP’s holdings in NIO were worth $1,524,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in shares of NIO by 148.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after acquiring an additional 2,877 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of NIO by 50.9% in the 2nd quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock worth $61,000 after acquiring an additional 5,974 shares during the period. AXA S.A. purchased a new position in NIO in the 2nd quarter valued at approximately $64,000. Savant Capital LLC acquired a new position in NIO during the second quarter worth $75,000. Finally, Aries Wealth Management acquired a new position in NIO during the third quarter worth $76,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Price Performance

Shares of NYSE:NIO opened at $5.97 on Wednesday. The business’s fifty day moving average price is $4.92 and its two-hundred day moving average price is $5.77. The stock has a market cap of $13.71 billion, a PE ratio of -6.15 and a beta of 1.11. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.87 and a current ratio of 0.98. NIO Inc. has a one year low of $3.02 and a one year high of $8.02.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NIO. Citigroup lowered their target price on NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Barclays lifted their price target on NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price objective on the stock in a research report on Thursday, January 15th. Bank of America restated a “neutral” rating on shares of NIO in a report on Tuesday, March 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.80.

NIO Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.