Renaissance Technologies LLC Purchases 5,962,731 Shares of NIO Inc. $NIO

Key Points

• Renaissance Technologies significantly increased its NIO position in the first quarter, buying 5,962,731 additional shares for a total holding of 14,452,131 shares worth about $87.1 million.
• Several other institutional investors also added to or opened positions in NIO, and institutions now own 48.55% of the stock.
• Analyst sentiment remains mixed but leans cautious: NIO has a consensus Hold rating with an average price target of $6.70, while shares recently traded near $4.49.

Renaissance Technologies LLC grew its position in NIO Inc. (NYSE:NIO - Free Report) by 70.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,452,131 shares of the company's stock after purchasing an additional 5,962,731 shares during the period. Renaissance Technologies LLC owned about 0.63% of NIO worth $87,146,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NIO. Compound Planning Inc. increased its stake in NIO by 52.1% in the 1st quarter. Compound Planning Inc. now owns 63,038 shares of the company's stock valued at $380,000 after buying an additional 21,589 shares during the last quarter. Modern Wealth Management LLC bought a new position in shares of NIO during the 1st quarter worth approximately $95,000. Perseverance Asset Management International purchased a new position in shares of NIO in the 1st quarter worth approximately $435,000. Bank of Nova Scotia purchased a new position in shares of NIO in the 1st quarter worth approximately $68,000. Finally, Sei Investments Co. bought a new position in shares of NIO in the first quarter valued at approximately $70,000. 48.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. 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 raised NIO from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a research report on Monday, July 13th. Weiss Ratings restated a "sell (e+)" rating on shares of NIO in a research note on Friday, May 1st. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, NIO presently has a consensus rating of "Hold" and an average price target of $6.70.

NIO Price Performance

NYSE NIO opened at $4.49 on Friday. The company has a market cap of $11.14 billion, a PE ratio of -8.15 and a beta of 0.90. NIO Inc. has a 52 week low of $4.37 and a 52 week high of $8.02. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The firm's 50-day simple moving average is $5.16 and its two-hundred day simple moving average is $5.36.

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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