Stablepoint Partners LLC Trims Stock Holdings in Nio Inc – (NYSE:NIO)

Stablepoint Partners LLC cut its holdings in shares of Nio Inc – (NYSE:NIO) by 15.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 18,982 shares of the company’s stock after selling 3,427 shares during the quarter. Stablepoint Partners LLC’s holdings in NIO were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of NIO. Renaissance Technologies LLC purchased a new position in NIO during the 2nd quarter worth $1,076,000. International Assets Investment Management LLC increased its position in NIO by 580.9% in the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after acquiring an additional 334,723 shares during the period. Toronto Dominion Bank raised its stake in NIO by 1,652,962.5% during the 3rd quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock valued at $883,000 after acquiring an additional 132,237 shares during the last quarter. FMR LLC grew its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in shares of NIO in the third quarter valued at approximately $1,327,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Trading Up 3.5 %

NYSE:NIO opened at $4.28 on Monday. Nio Inc – has a 52-week low of $3.61 and a 52-week high of $7.71. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $4.48 and a 200-day simple moving average of $4.78. The company has a market capitalization of $7.36 billion, a PE ratio of -2.83 and a beta of 1.70.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NIO shares. Daiwa America raised shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and cut their target price for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.71.

NIO Profile

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.