ABC Arbitrage SA Takes $55,000 Position in Nio Inc – (NYSE:NIO)

ABC Arbitrage SA purchased a new stake in shares of Nio Inc – (NYSE:NIO) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,664 shares of the company’s stock, valued at approximately $55,000.

Several other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in NIO in the 3rd quarter worth approximately $32,000. Blue Trust Inc. increased its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after purchasing an additional 3,607 shares in the last quarter. Trilogy Capital Inc. acquired a new stake in NIO in the 4th quarter valued at $45,000. First Trust Direct Indexing L.P. acquired a new stake in NIO in the 3rd quarter valued at $76,000. Finally, Apollon Wealth Management LLC acquired a new stake in NIO in the 3rd quarter valued at $78,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Trading Up 4.1 %

Shares of NYSE NIO opened at $4.44 on Friday. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $7.71. The company has a market cap of $9.26 billion, a PE ratio of -2.94 and a beta of 1.68. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $4.39 and a two-hundred day moving average of $4.75.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NIO shares. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NIO presently has an average rating of “Hold” and a consensus price target of $5.38.

NIO Company 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.