DNB Asset Management AS Increases Holdings in NIO Inc. $NIO

DNB Asset Management AS lifted its stake in NIO Inc. (NYSE:NIO) by 141.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,663 shares of the company’s stock after acquiring an additional 131,679 shares during the period. DNB Asset Management AS’s holdings in NIO were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. WT Asset Management Ltd purchased a new position in NIO in the third quarter worth $142,120,000. ABC Arbitrage SA acquired a new stake in shares of NIO in the 3rd quarter worth $1,857,000. American Century Companies Inc. boosted its position in shares of NIO by 37.4% in the 2nd quarter. American Century Companies Inc. now owns 965,409 shares of the company’s stock worth $3,311,000 after purchasing an additional 262,637 shares in the last quarter. RWC Asset Advisors US LLC purchased a new position in NIO during the 3rd quarter worth $79,761,000. Finally, Persistent Asset Partners Ltd acquired a new position in NIO during the 3rd quarter valued at about $1,572,000. Institutional investors own 48.55% of the company’s stock.

NIO Price Performance

Shares of NYSE:NIO opened at $4.59 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 2.36. NIO Inc. has a twelve month low of $3.02 and a twelve month high of $8.02. The company’s 50 day moving average is $4.86 and its 200 day moving average is $5.80. The company has a market cap of $9.58 billion, a PE ratio of -3.17 and a beta of 1.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup decreased their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research note on Wednesday, November 26th. UBS Group lowered shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Barclays boosted their target price on shares of NIO from $3.00 to $4.00 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Macquarie Infrastructure raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target for the company in a report on Thursday, January 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, NIO currently has an average rating of “Hold” and an average price target of $6.83.

NIO Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.