Russell Investments Group Ltd. Sells 828,619 Shares of NIO Inc. $NIO

Key Points

• Russell Investments Group cut its NIO holdings by 81.8% in the second quarter, selling 828,619 shares and retaining 184,833 shares valued at approximately $933,000.
• Institutional investors own 48.55% of NIO, while the stock opened at $4.51, near its one-year low of $4.38 and below its 50-day and 200-day moving averages.
• Analyst sentiment is moderately bullish: NIO has an average rating of “Moderate Buy” and a consensus price target of $6.70, despite ratings ranging from “Strong Buy” to “Sell.”

Russell Investments Group Ltd. decreased its holdings in shares of NIO Inc. (NYSE:NIO - Free Report) by 81.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,833 shares of the company's stock after selling 828,619 shares during the quarter. Russell Investments Group Ltd.'s holdings in NIO were worth $933,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NIO. Atlantic Union Bankshares Corp raised its position in shares of NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company's stock valued at $30,000 after buying an additional 2,950 shares in the last quarter. Arax Advisory Partners grew its position in NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company's stock worth $40,000 after acquiring an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in NIO during the fourth quarter worth approximately $41,000. Merkkuri Wealth Advisors LLC bought a new stake in NIO during the first quarter worth approximately $41,000. Finally, MV Capital Management Inc. purchased a new stake in NIO during the fourth quarter valued at approximately $42,000. Institutional investors own 48.55% of the company's stock.

NIO Stock Up 0.3%

Shares of NYSE:NIO opened at $4.51 on Friday. NIO Inc. has a 1 year low of $4.38 and a 1 year high of $8.02. The business has a 50 day simple moving average of $4.88 and a two-hundred day simple moving average of $5.35. The firm has a market capitalization of $11.21 billion, a PE ratio of -8.21 and a beta of 0.91. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.01 and a quick ratio of 0.90.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised NIO from a "neutral" rating to a "buy" rating and set a $7.00 price objective for the company in a research note on Monday, July 13th. Bank of America reissued a "neutral" rating and set a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. Sanford C. Bernstein restated a "market perform" rating and issued a $6.00 price target on shares of NIO in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NIO in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded shares of NIO from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. One 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average 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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