Rockefeller Capital Management L.P. raised its holdings in Nio Inc – (NYSE:NIO) by 59.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 76,409 shares of the company’s stock after acquiring an additional 28,395 shares during the period. Rockefeller Capital Management L.P.’s holdings in NIO were worth $4,064,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in NIO. Close Asset Management Ltd acquired a new stake in shares of NIO during the first quarter worth $26,000. MV Capital Management Inc. acquired a new stake in shares of NIO during the second quarter worth $27,000. Certified Advisory Corp acquired a new stake in shares of NIO during the first quarter worth $28,000. Meridian Wealth Partners LLC increased its position in shares of NIO by 77.4% during the first quarter. Meridian Wealth Partners LLC now owns 816 shares of the company’s stock worth $31,000 after buying an additional 356 shares during the period. Finally, Red Door Wealth Management LLC acquired a new stake in shares of NIO during the second quarter worth $31,000. Hedge funds and other institutional investors own 29.41% of the company’s stock.
NYSE NIO opened at $37.09 on Friday. Nio Inc – has a 52-week low of $16.75 and a 52-week high of $66.99. The company has a 50-day simple moving average of $41.38 and a 200 day simple moving average of $41.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.38 and a current ratio of 2.48. The company has a market capitalization of $58.20 billion, a PE ratio of -43.63 and a beta of 2.50.
A number of research firms have commented on NIO. upgraded shares of NIO from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.60 to $58.30 in a report on Tuesday, June 1st. HSBC raised shares of NIO from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Friday, July 9th. Citigroup reaffirmed a “neutral” rating on shares of NIO in a research note on Thursday, August 12th. Finally, BOCOM International began coverage on shares of NIO in a research note on Tuesday, June 8th. They issued a “buy” rating and a $57.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $65.49.
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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