Van ECK Associates Corp Raises Stock Holdings in Nio Inc – (NYSE:NIO)

Van ECK Associates Corp lifted its holdings in Nio Inc – (NYSE:NIO) by 7.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 519,404 shares of the company’s stock after purchasing an additional 36,486 shares during the period. Van ECK Associates Corp’s holdings in NIO were worth $2,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NIO. Creative Planning raised its holdings in shares of NIO by 8.3% in the third quarter. Creative Planning now owns 290,558 shares of the company’s stock worth $1,941,000 after buying an additional 22,240 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of NIO in the third quarter worth approximately $32,000. Signaturefd LLC raised its holdings in shares of NIO by 16.9% in the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after buying an additional 7,014 shares during the period. Private Advisor Group LLC raised its holdings in shares of NIO by 22.6% in the third quarter. Private Advisor Group LLC now owns 84,032 shares of the company’s stock worth $561,000 after buying an additional 15,509 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock worth $2,621,000 after buying an additional 334,723 shares during the period. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Stock Down 0.3 %

Shares of NYSE NIO opened at $4.38 on Friday. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $7.71. The stock’s fifty day simple moving average is $4.35 and its two-hundred day simple moving average is $4.75. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $9.13 billion, a PE ratio of -2.90 and a beta of 1.68.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $4.70 in a research note on Tuesday, February 4th. The Goldman Sachs Group cut NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, Hsbc Global Res cut NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.38.

About NIO

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.