Point72 Asset Management L.P. grew its position in shares of Nio Inc – (NYSE:NIO – Free Report) by 164.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,464,246 shares of the company’s stock after acquiring an additional 4,018,659 shares during the quarter. Point72 Asset Management L.P. owned 0.38% of NIO worth $26,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in NIO by 2.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,353 shares of the company’s stock worth $371,000 after acquiring an additional 2,000 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of NIO by 13.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,649 shares of the company’s stock worth $75,000 after purchasing an additional 2,038 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the period. Cantor Fitzgerald L. P. raised its stake in shares of NIO by 23.0% during the 4th quarter. Cantor Fitzgerald L. P. now owns 14,548 shares of the company’s stock worth $132,000 after purchasing an additional 2,719 shares during the period. Finally, First Affirmative Financial Network raised its stake in shares of NIO by 26.4% during the 1st quarter. First Affirmative Financial Network now owns 13,256 shares of the company’s stock worth $60,000 after purchasing an additional 2,768 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.
NIO Trading Up 2.3 %
Shares of NIO opened at $5.78 on Friday. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $9.57. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.71. The stock has a market cap of $9.94 billion, a PE ratio of -3.42 and a beta of 1.82. The business’s 50-day moving average price is $4.50 and its 200-day moving average price is $4.69.
Wall Street Analysts Forecast Growth
NIO has been the topic of a number of recent analyst reports. Wolfe Research started coverage on NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.93.
View Our Latest Research Report on NIO
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.
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