Intersect Capital LLC acquired a new position in shares of Nio Inc – (NYSE:NIO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,500 shares of the company’s stock, valued at approximately $52,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NIO. Bernardo Wealth Planning LLC raised its holdings in NIO by 34.5% during the 1st quarter. Bernardo Wealth Planning LLC now owns 15,600 shares of the company’s stock worth $80,000 after purchasing an additional 4,000 shares during the last quarter. NEXT Financial Group Inc grew its stake in NIO by 50.0% during the second quarter. NEXT Financial Group Inc now owns 15,000 shares of the company’s stock worth $38,000 after purchasing an additional 5,000 shares during the period. Claraphi Advisory Network LLC increased its holdings in NIO by 46.5% in the second quarter. Claraphi Advisory Network LLC now owns 23,505 shares of the company’s stock worth $60,000 after purchasing an additional 7,459 shares in the last quarter. Aries Wealth Management bought a new stake in NIO in the second quarter worth approximately $33,000. Finally, Sigma Planning Corp acquired a new position in NIO in the second quarter valued at approximately $27,000. 36.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on NIO. Bank of America cut shares of NIO from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $6.20 to $3.00 in a report on Tuesday, May 28th. Zacks Investment Research raised shares of NIO from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.07.
Shares of NYSE NIO opened at $3.14 on Tuesday. The company has a market capitalization of $3.06 billion and a PE ratio of -0.31. The company has a quick ratio of 1.34, a current ratio of 1.49 and a debt-to-equity ratio of 3.73. The stock’s 50 day moving average price is $3.09 and its 200-day moving average price is $4.30. Nio Inc – has a twelve month low of $2.35 and a twelve month high of $13.80.
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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