RWC Asset Advisors US LLC Purchases New Shares in NIO Inc. $NIO

Key Points

• RWC Asset Advisors US LLC acquired a new position of 10,467,320 shares of NIO in Q3 worth about $79.76 million, representing 13.1% of its portfolio and making NIO its second-largest holding (about 0.50% of NIO outstanding).
• Several other institutions (UBS, Kingstone, Vontobel, Invesco, Marex) have recently added or increased NIO stakes, institutional ownership is about 48.55%, and analysts have a consensus "Hold" rating with an average target price of $6.73.

RWC Asset Advisors US LLC acquired a new position in NIO Inc. (NYSE:NIO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,467,320 shares of the company's stock, valued at approximately $79,761,000. NIO accounts for about 13.1% of RWC Asset Advisors US LLC's portfolio, making the stock its 2nd largest holding. RWC Asset Advisors US LLC owned about 0.50% of NIO at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NIO. 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 purchasing an additional 5,185,565 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of NIO in the second quarter valued at approximately $12,315,000. Vontobel Holding Ltd. increased its position in shares of NIO by 125.2% in the second quarter. Vontobel Holding Ltd. now owns 1,094,398 shares of the company's stock valued at $3,754,000 after buying an additional 608,377 shares in the last quarter. Invesco Ltd. raised its stake in shares of NIO by 22.7% during the 2nd quarter. Invesco Ltd. now owns 2,738,308 shares of the company's stock worth $9,392,000 after buying an additional 506,618 shares during the period. Finally, Marex Group plc acquired a new stake in NIO in the 2nd quarter valued at $916,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Macquarie set a $5.30 price objective on shares of NIO in a research report on Tuesday, November 25th. Citigroup reduced their price target on shares of NIO from $8.60 to $6.90 and set a "buy" rating for the company in a research report on Wednesday, November 26th. UBS Group cut NIO from a "buy" rating to a "hold" rating in a report on Tuesday, November 25th. Mizuho increased their target price on NIO from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $7.00 price objective on shares of NIO in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.73.

NIO Stock Performance

NIO stock opened at $4.85 on Tuesday. The firm has a 50 day simple moving average of $5.44 and a 200-day simple moving average of $5.67. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of -3.34 and a beta of 1.05. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.94 and a quick ratio of 0.83. NIO Inc. has a 1-year low of $3.02 and a 1-year high of $8.02.

NIO Company 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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