Hsbc Holdings PLC trimmed its position in NIO Inc. (NYSE:NIO – Free Report) by 68.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,984 shares of the company’s stock after selling 467,398 shares during the period. Hsbc Holdings PLC’s holdings in NIO were worth $1,284,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of NIO. V Square Quantitative Management LLC raised its position in shares of NIO by 17.4% in the first quarter. V Square Quantitative Management LLC now owns 13,707 shares of the company’s stock valued at $83,000 after buying an additional 2,027 shares during the last quarter. Tidal Investments LLC boosted its position in NIO by 0.9% during the second quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock worth $985,000 after acquiring an additional 2,433 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in NIO by 11.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 24,884 shares of the company’s stock worth $127,000 after acquiring an additional 2,586 shares during the last quarter. Wealthspire Advisors LLC grew its stake in NIO by 26.4% in the 4th quarter. Wealthspire Advisors LLC now owns 12,980 shares of the company’s stock worth $66,000 after acquiring an additional 2,707 shares during the period. Finally, Atlantic Union Bankshares Corp grew its stake in NIO by 98.3% in the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares during the period. 48.55% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on NIO shares. Sanford C. Bernstein reiterated a “market perform” rating and issued a $6.00 price target on shares of NIO in a report on Friday, May 22nd. Bank of America reaffirmed a “neutral” rating and issued a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. Finally, The Goldman Sachs Group upgraded NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, NIO currently has a consensus rating of “Hold” and a consensus target price of $6.70.
NIO Trading Up 2.8%
NYSE NIO opened at $4.62 on Tuesday. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of -8.39 and a beta of 0.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. NIO Inc. has a one year low of $4.37 and a one year high of $8.02. The company’s 50 day moving average price is $5.13 and its 200 day moving average price is $5.36.
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.
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