Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Nio Inc – (NYSE:NIO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,000 shares of the company’s stock, valued at approximately $181,000.
Several other hedge funds have also recently bought and sold shares of the company. National Asset Management Inc. purchased a new stake in NIO during the 3rd quarter worth about $105,000. Wells Fargo & Company MN purchased a new stake in NIO during the 3rd quarter worth about $219,000. Strategic Wealth Advisors Group LLC purchased a new stake in NIO during the 3rd quarter worth about $228,000. Nwam LLC purchased a new stake in NIO during the 3rd quarter worth about $230,000. Finally, MML Investors Services LLC purchased a new stake in NIO during the 3rd quarter worth about $266,000. Institutional investors own 15.21% of the company’s stock.
A number of analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on NIO in a report on Monday, October 8th. They set a “neutral” rating and a $7.00 price objective on the stock. Morgan Stanley assumed coverage on NIO in a report on Monday, October 8th. They set a “buy” rating and a $9.00 price objective on the stock. Deutsche Bank assumed coverage on NIO in a report on Monday, October 8th. They set a “buy” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on NIO in a report on Tuesday, October 9th. They set a “neutral” rating on the stock. Finally, Sanford C. Bernstein assumed coverage on NIO in a report on Thursday, September 13th. They set an “underperform” rating and a $4.20 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. NIO currently has a consensus rating of “Hold” and a consensus price target of $8.47.
NYSE:NIO opened at $6.99 on Friday. Nio Inc – has a twelve month low of $5.61 and a twelve month high of $13.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.28 and a current ratio of 2.56.
COPYRIGHT VIOLATION WARNING: “Zurcher Kantonalbank Zurich Cantonalbank Purchases New Position in Nio Inc – (NIO)” was reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://transcriptdaily.com/2018/12/08/zurcher-kantonalbank-zurich-cantonalbank-purchases-new-position-in-nio-inc-nio.html.
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China, the United States, Germany, and the United Kingdom. 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.
Featured Story: Why is Cost of Capital Important?
Want to see what other hedge funds are holding NIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nio Inc – (NYSE:NIO).
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.