WT Asset Management Ltd Acquires Shares of 18,650,894 NIO Inc. $NIO

Key Points

• WT Asset Management acquired 18,650,894 shares of NIO in Q3 (≈$142.1M), making NIO 6.6% of its portfolio and its fourth-largest holding, with WT owning 0.89% of NIO at quarter-end.
• NIO trades around $4.94 with a market cap of ~$10.3B; analysts' consensus is a Hold with an average target of $6.83, and institutional investors own about 48.55% of the stock.

WT Asset Management Ltd acquired a new position in shares of NIO Inc. (NYSE:NIO - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,650,894 shares of the company's stock, valued at approximately $142,120,000. NIO comprises 6.6% of WT Asset Management Ltd's investment portfolio, making the stock its 4th largest holding. WT Asset Management Ltd owned 0.89% of NIO at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gladstone Institutional Advisory LLC grew its stake in NIO by 12.8% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 13,231 shares of the company's stock worth $101,000 after purchasing an additional 1,500 shares in the last quarter. MGO One Seven LLC increased its stake in shares of NIO by 10.6% during the third quarter. MGO One Seven LLC now owns 16,208 shares of the company's stock worth $124,000 after acquiring an additional 1,560 shares during the period. Tidal Investments LLC lifted its holdings in NIO by 0.9% in the second quarter. Tidal Investments LLC now owns 287,140 shares of the company's stock valued at $985,000 after acquiring an additional 2,433 shares during the period. Farther Finance Advisors LLC increased its stake in NIO by 148.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company's stock valued at $37,000 after purchasing an additional 2,877 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in shares of NIO by 7.2% during the 3rd quarter. Ballentine Partners LLC now owns 43,085 shares of the company's stock worth $328,000 after purchasing an additional 2,885 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NIO in a research report on Monday, December 29th. Citigroup lowered their price target on NIO from $8.60 to $6.90 and set a "buy" rating on the stock in a report on Wednesday, November 26th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $7.00 target price on shares of NIO in a report on Thursday, October 30th. Macquarie Infrastructure raised shares of NIO from a "neutral" rating to an "outperform" rating and set a $6.10 price target on the stock in a research note on Thursday, January 15th. Finally, Barclays increased their price target on NIO from $3.00 to $4.00 and gave the company an "underweight" rating in a report on Friday, November 28th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $6.83.

NIO Price Performance

Shares of NYSE:NIO traded up $0.01 on Friday, hitting $4.94. The stock had a trading volume of 2,927,368 shares, compared to its average volume of 43,526,809. The firm's 50 day moving average price is $4.85 and its 200-day moving average price is $5.77. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.83 and a current ratio of 0.94. NIO Inc. has a twelve month low of $3.02 and a twelve month high of $8.02. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of -3.40 and a beta of 1.10.

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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