NIO Inc. $NIO Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies increased its stake in NIO by 37.4% in Q2, buying an additional 262,637 shares to hold 965,409 shares worth about $3.31 million.
• Other institutions also added to positions — notably HSBC bought 510,610 shares to hold 1,039,162 shares — leaving hedge funds and institutions owning 48.55% of NIO stock.
• NIO shares opened at roughly $5.12 (52-week range $3.02–$8.02) with a market cap of about $10.68B; analysts have an average rating of Hold and a consensus target of $6.73, while JPMorgan recently upgraded the stock to Overweight with an $8 target.

American Century Companies Inc. grew its holdings in NIO Inc. (NYSE:NIO - Free Report) by 37.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 965,409 shares of the company's stock after buying an additional 262,637 shares during the period. American Century Companies Inc.'s holdings in NIO were worth $3,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NIO. Caitong International Asset Management Co. Ltd raised its stake in NIO by 31.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 126,840 shares of the company's stock valued at $483,000 after acquiring an additional 30,042 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of NIO by 4,297.2% in the first quarter. Brooklyn Investment Group now owns 15,434 shares of the company's stock valued at $59,000 after purchasing an additional 15,083 shares during the period. Hsbc Holdings PLC raised its stake in shares of NIO by 96.6% during the first quarter. Hsbc Holdings PLC now owns 1,039,162 shares of the company's stock worth $3,964,000 after purchasing an additional 510,610 shares during the last quarter. Compound Planning Inc. lifted its holdings in shares of NIO by 25.5% during the first quarter. Compound Planning Inc. now owns 33,746 shares of the company's stock worth $129,000 after purchasing an additional 6,865 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of NIO by 49.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,441 shares of the company's stock worth $70,000 after purchasing an additional 6,078 shares during the period. Hedge funds and other institutional investors own 48.55% of the company's stock.

NIO Stock Performance

Shares of NIO opened at $5.12 on Tuesday. The company has a 50-day simple moving average of $6.54 and a 200-day simple moving average of $5.43. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36. The company has a market capitalization of $10.68 billion, a PE ratio of -3.53 and a beta of 1.04. NIO Inc. has a 52-week low of $3.02 and a 52-week high of $8.02.

Wall Street Analysts Forecast Growth

NIO has been the topic of several recent research reports. JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $4.80 to $8.00 in a research note on Tuesday, August 26th. Mizuho boosted their price target on shares of NIO from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Wall Street Zen raised shares of NIO from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. Macquarie set a $5.30 price objective on shares of NIO in a research report on Tuesday, November 25th. Finally, Citigroup dropped their target price on NIO from $8.60 to $6.90 and set a "buy" rating on the stock in a research report on Wednesday, November 26th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.73.

About NIO

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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