Geode Capital Management LLC Reduces Position in Nio Inc – (NYSE:NIO)

Geode Capital Management LLC decreased its stake in shares of Nio Inc – (NYSE:NIO) by 94.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 467,564 shares of the company’s stock after selling 7,417,861 shares during the quarter. Geode Capital Management LLC’s holdings in NIO were worth $3,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in NIO in the 3rd quarter worth $32,000. First Trust Direct Indexing L.P. acquired a new position in shares of NIO in the third quarter valued at about $76,000. Apollon Wealth Management LLC purchased a new position in shares of NIO in the third quarter worth about $78,000. Sivia Capital Partners LLC acquired a new stake in shares of NIO during the third quarter worth about $92,000. Finally, Avior Wealth Management LLC boosted its position in NIO by 106.1% in the third quarter. Avior Wealth Management LLC now owns 14,588 shares of the company’s stock valued at $97,000 after buying an additional 7,510 shares during the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Price Performance

NYSE:NIO opened at $4.70 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $8.05. The stock’s 50-day moving average price is $4.69 and its 200-day moving average price is $4.81. The stock has a market capitalization of $8.08 billion, a PE ratio of -3.11 and a beta of 1.70.

Wall Street Analysts Forecast Growth

NIO has been the subject of a number of recent research reports. Macquarie lowered shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and lowered their price target for the company from $4.80 to $3.90 in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.