HighTower Advisors LLC Has $601,000 Position in Nio Inc – (NYSE:NIO)

HighTower Advisors LLC cut its position in shares of Nio Inc – (NYSE:NIO) by 9.4% during the third quarter, Holdings Channel reports. The institutional investor owned 90,381 shares of the company’s stock after selling 9,368 shares during the quarter. HighTower Advisors LLC’s holdings in NIO were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of NIO during the 2nd quarter worth approximately $25,000. Allspring Global Investments Holdings LLC bought a new position in NIO in the third quarter worth $32,000. Caprock Group LLC acquired a new stake in NIO during the second quarter worth $63,000. Atomi Financial Group Inc. bought a new stake in NIO in the 2nd quarter valued at $70,000. Finally, AE Wealth Management LLC acquired a new position in shares of NIO in the 2nd quarter valued at $75,000. 48.55% of the stock is currently owned by institutional investors.

NIO Stock Up 1.9 %

Shares of NYSE NIO opened at $4.40 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market cap of $7.56 billion, a price-to-earnings ratio of -2.91 and a beta of 1.77. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $9.57. The firm’s 50-day simple moving average is $4.94 and its 200 day simple moving average is $4.82.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Citigroup lowered their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $6.60 to $4.80 in a report on Wednesday, November 20th. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.71.

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.