Aspex Management HK Ltd lessened its holdings in NIO Inc. (NYSE:NIO – Free Report) by 62.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,141,609 shares of the company’s stock after selling 21,858,391 shares during the period. NIO accounts for about 1.4% of Aspex Management HK Ltd’s investment portfolio, making the stock its 14th biggest holding. Aspex Management HK Ltd’s holdings in NIO were worth $67,022,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp lifted its stake in shares of NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock valued at $30,000 after purchasing an additional 2,950 shares during the last quarter. Allworth Financial LP lifted its stake in shares of NIO by 183.5% in the 3rd quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after purchasing an additional 4,269 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of NIO in the 4th quarter valued at $41,000. Aries Wealth Management acquired a new stake in shares of NIO in the 3rd quarter valued at $76,000. Finally, Strategies Wealth Advisors LLC acquired a new stake in shares of NIO in the 3rd quarter valued at $77,000. Institutional investors and hedge funds own 48.55% of the company’s stock.
NIO Stock Down 0.5%
NIO stock opened at $5.21 on Friday. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of -9.46 and a beta of 0.92. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90. NIO Inc. has a fifty-two week low of $3.34 and a fifty-two week high of $8.02. The firm has a fifty day moving average price of $6.00 and a two-hundred day moving average price of $5.40.
Analyst Ratings Changes
Several research firms recently issued reports on NIO. Bank of America reaffirmed a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research note on Thursday, May 21st. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.80 to $6.80 in a research note on Friday, March 13th. Dbs Bank raised shares of NIO from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 16th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of NIO in a research note on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.70.
About NIO
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.
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