Connor Clark & Lunn Investment Management Ltd. grew its stake in Nio Inc – (NYSE:NIO – Get Rating) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,659 shares of the company’s stock after acquiring an additional 3,340 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NIO were worth $6,959,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in NIO by 5.5% in the third quarter. BlackRock Inc. now owns 61,624,811 shares of the company’s stock worth $2,195,693,000 after acquiring an additional 3,187,731 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in NIO by 35.2% in the third quarter. UBS Asset Management Americas Inc. now owns 9,446,164 shares of the company’s stock worth $336,567,000 after acquiring an additional 2,458,313 shares in the last quarter. Credit Suisse AG boosted its holdings in NIO by 12.1% in the third quarter. Credit Suisse AG now owns 9,371,446 shares of the company’s stock worth $333,905,000 after acquiring an additional 1,011,371 shares in the last quarter. First Trust Advisors LP boosted its holdings in NIO by 17.9% in the fourth quarter. First Trust Advisors LP now owns 6,728,688 shares of the company’s stock worth $213,165,000 after acquiring an additional 1,020,601 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in NIO by 17.5% in the third quarter. Geode Capital Management LLC now owns 5,026,020 shares of the company’s stock worth $177,609,000 after acquiring an additional 747,514 shares in the last quarter. 42.98% of the stock is currently owned by institutional investors and hedge funds.
NIO stock opened at $13.55 on Tuesday. Nio Inc – has a twelve month low of $13.01 and a twelve month high of $55.13. The stock’s fifty day simple moving average is $19.05 and its 200-day simple moving average is $27.27. The company has a current ratio of 2.18, a quick ratio of 2.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $22.62 billion, a P/E ratio of -13.03 and a beta of 2.46.
Several research firms have commented on NIO. CLSA dropped their target price on NIO from $60.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. Barclays initiated coverage on NIO in a report on Tuesday, February 8th. They set an “overweight” rating and a $34.00 price target on the stock. initiated coverage on NIO in a report on Thursday, March 24th. They set a “buy” rating and a $32.40 price target on the stock. UBS Group upgraded NIO from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $42.00 to $32.00 in a research report on Monday, April 4th. Finally, Nomura reduced their price objective on NIO from $67.10 to $51.50 and set a “buy” rating for the company in a research report on Monday, March 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $49.24.
About NIO (Get Rating)
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.
- Get a free copy of the StockNews.com research report on NIO (NIO)
- Follow The Money To Cigna
- The Low In Lordstown Motors May Not Be The Last
- Intuitive Surgical is an Intuitive Buy
- MarketBeat Podcast: Barbell Strategy To Strengthen Your Portfolio
- Johnson Outdoors Falls On Bleak Outlook
Receive News & Ratings for NIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIO and related companies with MarketBeat.com's FREE daily email newsletter.