KBC Group NV Lowers Stock Position in NIO Inc. $NIO

KBC Group NV cut its stake in shares of NIO Inc. (NYSE:NIO) by 19.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 471,838 shares of the company’s stock after selling 111,884 shares during the period. KBC Group NV’s holdings in NIO were worth $2,388,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE grew its position in NIO by 99.0% in the first quarter. Bank of America Corp DE now owns 14,228,916 shares of the company’s stock worth $85,800,000 after acquiring an additional 7,079,903 shares in the last quarter. Renaissance Technologies LLC increased its stake in NIO by 70.2% in the first quarter. Renaissance Technologies LLC now owns 14,452,131 shares of the company’s stock valued at $87,146,000 after acquiring an additional 5,962,731 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in NIO during the second quarter valued at about $19,008,000. ABC Arbitrage SA purchased a new stake in NIO during the first quarter valued at about $4,043,000. Finally, Hsbc Holdings PLC lifted its stake in NIO by 48.8% during the fourth quarter. Hsbc Holdings PLC now owns 680,382 shares of the company’s stock worth $3,445,000 after purchasing an additional 223,178 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

NIO Stock Up 0.3%

NIO opened at $4.51 on Friday. NIO Inc. has a 12 month low of $4.38 and a 12 month high of $8.02. The company has a current ratio of 1.01, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94. The business’s 50-day moving average price is $4.88 and its 200-day moving average price is $5.35. The company has a market cap of $11.21 billion, a P/E ratio of -8.21 and a beta of 0.91.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NIO shares. Sanford C. Bernstein reiterated a “market perform” rating and issued a $6.00 price objective on shares of NIO in a report on Friday, May 22nd. The Goldman Sachs Group raised NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Monday, July 13th. Bank of America restated a “neutral” rating and issued a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of NIO in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of NIO from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.70.

NIO Company Profile

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.