BlackRock Inc. Acquires 4,835,232 Shares of Nio Inc - (NYSE:NIO)

BlackRock Inc. increased its holdings in Nio Inc - (NYSE:NIO - Free Report) by 7.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 66,794,714 shares of the company's stock after buying an additional 4,835,232 shares during the quarter. BlackRock Inc. owned about 4.00% of NIO worth $647,241,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NIO. E Fund Management Hong Kong Co. Ltd. increased its holdings in NIO by 127.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 770,160 shares of the company's stock worth $15,172,000 after buying an additional 431,851 shares in the last quarter. US Bancorp DE increased its holdings in NIO by 19.9% in the 1st quarter. US Bancorp DE now owns 18,593 shares of the company's stock worth $392,000 after buying an additional 3,092 shares in the last quarter. Cibc World Market Inc. increased its holdings in NIO by 23.6% in the 1st quarter. Cibc World Market Inc. now owns 38,708 shares of the company's stock worth $815,000 after buying an additional 7,396 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in NIO by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,705,563 shares of the company's stock worth $57,007,000 after buying an additional 48,720 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in NIO by 45.6% in the 1st quarter. Sei Investments Co. now owns 338,913 shares of the company's stock worth $7,134,000 after buying an additional 106,140 shares in the last quarter. 42.32% of the stock is currently owned by institutional investors.

NIO Stock Up 1.4 %

NIO stock opened at $7.43 on Wednesday. Nio Inc - has a twelve month low of $7.00 and a twelve month high of $16.18. The company has a quick ratio of 0.82, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The stock has a market cap of $12.76 billion, a P/E ratio of -4.13 and a beta of 2.00. The business's 50-day moving average price is $7.89 and its 200-day moving average price is $9.47.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on NIO from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, September 6th. Sanford C. Bernstein cut their price target on NIO from $9.00 to $8.00 and set a "market perform" rating for the company in a research note on Wednesday, August 30th. Mizuho cut their price target on NIO from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, August 30th. CLSA cut their price target on NIO from $18.00 to $14.00 in a research note on Thursday, August 31st. Finally, JPMorgan Chase & Co. boosted their price target on NIO from $9.00 to $10.50 and gave the company a "neutral" rating in a research note on Wednesday, August 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.80.

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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