Desjardins Global Asset Management Inc. boosted its stake in shares of Nio Inc – (NYSE:NIO – Free Report) by 29.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 57,903 shares of the company’s stock after acquiring an additional 13,239 shares during the period. Desjardins Global Asset Management Inc.’s holdings in NIO were worth $525,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NIO. Norges Bank purchased a new position in NIO during the fourth quarter valued at approximately $155,344,000. Two Sigma Investments LP purchased a new position in NIO during the first quarter valued at approximately $71,533,000. Renaissance Technologies LLC grew its position in NIO by 2,377.8% during the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company’s stock valued at $113,704,000 after purchasing an additional 5,183,600 shares in the last quarter. Electron Capital Partners LLC purchased a new position in NIO during the third quarter valued at approximately $37,918,000. Finally, Bank of America Corp DE grew its position in NIO by 90.3% during the first quarter. Bank of America Corp DE now owns 6,499,102 shares of the company’s stock valued at $68,306,000 after purchasing an additional 3,083,955 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.
NIO Price Performance
NYSE NIO opened at $3.92 on Thursday. Nio Inc – has a 1 year low of $3.71 and a 1 year high of $16.18. The company has a fifty day simple moving average of $5.25 and a 200 day simple moving average of $6.76. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.51.
Analyst Ratings Changes
Several analysts have commented on the stock. Macquarie assumed coverage on shares of NIO in a research report on Monday. They issued a “neutral” rating and a $5.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of NIO from $5.00 to $4.80 and set an “underweight” rating for the company in a research report on Wednesday, March 6th. Mizuho reissued a “neutral” rating and issued a $5.50 target price on shares of NIO in a research report on Monday, March 25th. Bank of America decreased their target price on shares of NIO from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, UBS Group decreased their target price on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, NIO currently has an average rating of “Hold” and a consensus price target of $8.43.
Read Our Latest Analysis on NIO
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.
See Also
- Five stocks we like better than NIO
- What is the NASDAQ Stock Exchange?
- Planet Labs Soars Fueled by AI Data Demand
- Russell 2000 Index, How Investors Use it For Profitable Trading
- These are the Top 4 Stocks for Buybacks in 2024
- Trading Halts Explained
- United Airlines Soars on Earnings Beat
Want to see what other hedge funds are holding NIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nio Inc – (NYSE:NIO – Free Report).
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.