B. Riley Wealth Advisors Inc. Sells 16,626 Shares of Nio Inc – (NYSE:NIO)

B. Riley Wealth Advisors Inc. reduced its holdings in Nio Inc – (NYSE:NIO) by 57.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,378 shares of the company’s stock after selling 16,626 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NIO were worth $83,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NIO. Ballentine Partners LLC increased its position in shares of NIO by 11.5% in the third quarter. Ballentine Partners LLC now owns 24,020 shares of the company’s stock worth $160,000 after purchasing an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of NIO by 15.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company’s stock worth $129,000 after buying an additional 2,588 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of NIO by 4.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company’s stock valued at $262,000 after buying an additional 2,915 shares in the last quarter. Greenwich Wealth Management LLC lifted its holdings in shares of NIO by 12.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company’s stock worth $121,000 after acquiring an additional 3,315 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in NIO by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock worth $866,000 after acquiring an additional 3,539 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Trading Up 3.2 %

NYSE:NIO opened at $4.54 on Monday. The firm has a market capitalization of $7.80 billion, a P/E ratio of -3.01 and a beta of 1.77. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average of $4.87 and a 200 day moving average of $4.81. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $9.57.

Analyst Ratings Changes

A number of research firms have weighed in on NIO. Bank of America raised their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Daiwa America upgraded NIO to a “strong-buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and reduced their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Finally, Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.71.

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.