OVERSEA CHINESE BANKING Corp Ltd Buys New Position in Nio Inc – (NYSE:NIO)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Nio Inc – (NYSE:NIO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 45,610 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after acquiring an additional 4,332 shares in the last quarter. Callan Family Office LLC bought a new position in NIO in the fourth quarter worth approximately $44,000. Trilogy Capital Inc. bought a new position in NIO in the fourth quarter worth approximately $45,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in NIO in the fourth quarter worth approximately $53,000. Institutional investors own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NIO. HSBC lowered NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Finally, Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.03.

NIO Stock Performance

Shares of NIO stock opened at $4.72 on Friday. The business’s fifty day simple moving average is $4.42 and its 200 day simple moving average is $4.86. The firm has a market capitalization of $9.84 billion, a P/E ratio of -3.12 and a beta of 1.81. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $7.71. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

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.