3,756,576 Shares in NIO Inc. $NIO Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 3.76 million NIO shares worth approximately $19.0 million, representing about 0.15% of the company.
• Several institutional investors increased their NIO holdings, including Renaissance Technologies, Bank of America, UBS Asset Management and SG Americas Securities. Institutional investors collectively own 48.55% of NIO.
• NIO shares opened at $4.73, near their 52-week low, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $6.70.

Assenagon Asset Management S.A. acquired a new position in shares of NIO Inc. (NYSE:NIO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,756,576 shares of the company's stock, valued at approximately $19,008,000. Assenagon Asset Management S.A. owned approximately 0.15% of NIO at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NIO. Renaissance Technologies LLC grew its holdings in NIO by 70.2% during the 1st quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company's stock worth $87,146,000 after acquiring an additional 5,962,731 shares during the last quarter. Bank of America Corp DE increased its holdings in NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company's stock valued at $85,800,000 after purchasing an additional 7,079,903 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of NIO by 14.4% in the 4th quarter. Voloridge Investment Management LLC now owns 13,498,709 shares of the company's stock valued at $68,843,000 after acquiring an additional 1,694,023 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NIO by 3,966.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,316,291 shares of the company's stock valued at $20,255,000 after acquiring an additional 5,185,565 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of NIO by 67.2% in the 1st quarter. SG Americas Securities LLC now owns 5,027,161 shares of the company's stock valued at $30,314,000 after acquiring an additional 2,020,754 shares during the period. Institutional investors own 48.55% of the company's stock.

NIO Trading Down 0.3%

NYSE NIO opened at $4.73 on Monday. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of -8.59 and a beta of 0.91. The stock's 50 day moving average price is $5.00 and its two-hundred day moving average price is $5.36. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. NIO Inc. has a 52 week low of $4.37 and a 52 week high of $8.02.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a report on Wednesday, July 29th. Zacks Research upgraded NIO from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Bank of America reaffirmed a "neutral" rating and set a $6.80 price target on shares of NIO in a research report on Thursday, May 21st. The Goldman Sachs Group upgraded NIO from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a report on Monday, July 13th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $6.00 price objective on shares of NIO in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, NIO presently has a consensus rating of "Moderate Buy" and an average price target of $6.70.

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.

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