SG Americas Securities LLC Acquires 491,140 Shares of Nio Inc - (NYSE:NIO)

SG Americas Securities LLC grew its holdings in shares of Nio Inc - (NYSE:NIO - Free Report) by 352.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 630,470 shares of the company's stock after purchasing an additional 491,140 shares during the quarter. SG Americas Securities LLC's holdings in NIO were worth $5,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in NIO during the fourth quarter valued at approximately $155,344,000. Two Sigma Investments LP acquired a new position in NIO during the first quarter valued at approximately $71,533,000. Renaissance Technologies LLC grew its holdings in NIO by 2,377.8% during the first quarter. Renaissance Technologies LLC now owns 5,401,600 shares of the company's stock valued at $113,704,000 after purchasing an additional 5,183,600 shares during the last quarter. BlackRock Inc. grew its holdings in NIO by 7.8% during the second quarter. BlackRock Inc. now owns 66,794,714 shares of the company's stock valued at $647,241,000 after purchasing an additional 4,835,232 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in NIO by 90.3% during the first quarter. Bank of America Corp DE now owns 6,499,102 shares of the company's stock valued at $68,306,000 after purchasing an additional 3,083,955 shares during the last quarter. Institutional investors own 42.32% of the company's stock.

NIO Trading Up 1.6 %

NIO stock opened at $8.42 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 0.76. The firm has a market cap of $14.47 billion, a P/E ratio of -4.65 and a beta of 2.00. Nio Inc - has a 1-year low of $7.00 and a 1-year high of $16.18. The business's 50 day moving average is $7.68 and its 200-day moving average is $9.46.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on NIO from $9.00 to $10.50 and gave the company a "neutral" rating in a research note on Wednesday, August 30th. Bank of America decreased their target price on NIO from $16.20 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, August 30th. CLSA decreased their target price on NIO from $18.00 to $14.00 in a research note on Thursday, August 31st. Sanford C. Bernstein decreased their target price 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. Finally, Mizuho decreased their target price on NIO from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, December 6th. Six 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 presently has an average rating of "Hold" and a consensus price target of $12.55.

NIO Profile

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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