KBC Group NV Acquires 165,741 Shares of NIO Inc. $NIO

KBC Group NV lifted its holdings in NIO Inc. (NYSE:NIO) by 39.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 583,722 shares of the company’s stock after buying an additional 165,741 shares during the quarter. KBC Group NV’s holdings in NIO were worth $3,520,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Spartan Wealth Advisory Services LLC bought a new position in NIO in the first quarter valued at approximately $82,000. Allspring Global Investments Holdings LLC acquired a new position in shares of NIO in the first quarter valued at approximately $95,000. ABC Arbitrage SA acquired a new position in shares of NIO in the first quarter valued at approximately $4,043,000. Archer Investment Corp increased its position in shares of NIO by 6,621.7% during the first quarter. Archer Investment Corp now owns 45,506 shares of the company’s stock worth $274,000 after acquiring an additional 44,829 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of NIO by 143.7% during the first quarter. Sequoia Financial Advisors LLC now owns 51,350 shares of the company’s stock worth $310,000 after acquiring an additional 30,275 shares in the last quarter. 48.55% of the stock is owned by institutional investors.

NIO Stock Performance

Shares of NIO stock opened at $4.49 on Friday. NIO Inc. has a 12 month low of $4.37 and a 12 month high of $8.02. The company’s fifty day simple moving average is $5.16 and its 200-day simple moving average is $5.36. The firm has a market cap of $11.14 billion, a PE ratio of -8.15 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94.

Analyst Ratings Changes

Several research firms recently commented on NIO. The Goldman Sachs Group raised shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, July 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 target price on shares of NIO in a research note on Friday, May 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a report on Friday, May 1st. Finally, Bank of America reissued a “neutral” rating and issued a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.70.

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.