Mirae Asset Global Investments Co. Ltd. Sells 9,693 Shares of Nio Inc – (NYSE:NIO)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Nio Inc – (NYSE:NIO) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,915 shares of the company’s stock after selling 9,693 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NIO were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NIO. Blue Trust Inc. boosted its position in shares of NIO by 138.5% during the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in NIO in the 3rd quarter worth $32,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of NIO during the 4th quarter valued at about $53,000. Perigon Wealth Management LLC grew its position in shares of NIO by 24.1% during the fourth quarter. Perigon Wealth Management LLC now owns 14,769 shares of the company’s stock valued at $61,000 after purchasing an additional 2,867 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of NIO in the third quarter worth about $76,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Stock Down 6.8 %

Shares of NYSE:NIO opened at $4.04 on Wednesday. The firm has a market capitalization of $8.42 billion, a PE ratio of -2.67 and a beta of 1.69. The business has a 50 day simple moving average of $4.40 and a two-hundred day simple moving average of $4.75. Nio Inc – has a 1 year low of $3.61 and a 1 year high of $7.71. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.38.

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.