NIO Inc. $NIO Shares Sold by Aspex Management HK Ltd

Aspex Management HK Ltd decreased its holdings in NIO Inc. (NYSE:NIO) by 62.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,141,609 shares of the company’s stock after selling 21,858,391 shares during the quarter. NIO accounts for about 1.4% of Aspex Management HK Ltd’s investment portfolio, making the stock its 14th largest position. Aspex Management HK Ltd owned approximately 0.63% of NIO worth $67,022,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NIO. WT Asset Management Ltd acquired a new position in NIO in the third quarter worth approximately $142,120,000. Ghisallo Capital Management LLC acquired a new position in NIO in the third quarter worth approximately $91,440,000. Voloridge Investment Management LLC acquired a new position in NIO in the third quarter worth approximately $89,952,000. Quadrature Capital Ltd acquired a new position in NIO in the third quarter worth approximately $58,308,000. Finally, Bank of America Corp DE grew its position in NIO by 157.4% in the third quarter. Bank of America Corp DE now owns 8,838,076 shares of the company’s stock worth $67,346,000 after buying an additional 5,405,140 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analysts Set New Price Targets

NIO has been the topic of several recent research reports. HSBC upgraded shares of NIO from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.80 to $6.80 in a research report on Friday, March 13th. Bank of America reiterated a “neutral” rating and set a $6.80 price objective on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Friday, May 1st. Dbs Bank upgraded shares of NIO from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 16th. Finally, Nomura upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $6.60 price objective on the stock in a research report on Wednesday, March 11th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and a consensus target price of $6.70.

NIO Trading Down 0.5%

Shares of NYSE:NIO opened at $5.21 on Friday. The firm has a fifty day moving average of $6.00 and a two-hundred day moving average of $5.40. The firm has a market capitalization of $12.92 billion, a P/E ratio of -9.46 and a beta of 0.92. NIO Inc. has a 12-month low of $3.34 and a 12-month high of $8.02. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94.

NIO (NYSE:NIO) last issued its earnings results on Saturday, February 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The company had revenue of $4.95 billion during the quarter. NIO had a negative net margin of 8.78% and a negative return on equity of 318.96%. On average, equities analysts expect that NIO Inc. will post -0.13 EPS for the current fiscal year.

About NIO

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.