DNB Asset Management AS Grows Position in NIO Inc. $NIO

DNB Asset Management AS increased its stake in shares of NIO Inc. (NYSE:NIO) by 141.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 224,663 shares of the company’s stock after acquiring an additional 131,679 shares during the quarter. DNB Asset Management AS’s holdings in NIO were worth $1,712,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in NIO by 148.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after purchasing an additional 2,877 shares in the last quarter. Aries Wealth Management purchased a new position in shares of NIO during the third quarter valued at about $76,000. Concurrent Investment Advisors LLC bought a new stake in shares of NIO in the third quarter worth about $77,000. Vantage Financial Partners LLC purchased a new stake in shares of NIO in the third quarter worth about $83,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of NIO in the third quarter worth about $86,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup cut their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a report on Wednesday, November 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a report on Monday, December 29th. UBS Group downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays increased their price objective on shares of NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 28th. Finally, Macquarie Infrastructure upgraded shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price on the stock in a report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.83.

NIO Trading Down 2.8%

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

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.