266,984 Shares in NIO Inc. $NIO Purchased by Marex Group plc

Marex Group plc acquired a new position in shares of NIO Inc. (NYSE:NIO) during the 2nd quarter, Holdings Channel reports. The fund acquired 266,984 shares of the company’s stock, valued at approximately $916,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NIO. Hedeker Wealth LLC bought a new stake in shares of NIO in the 2nd quarter valued at approximately $43,000. SeaCrest Wealth Management LLC purchased a new stake in NIO during the 2nd quarter valued at $56,000. Brooklyn Investment Group lifted its position in NIO by 4,297.2% in the first quarter. Brooklyn Investment Group now owns 15,434 shares of the company’s stock worth $59,000 after buying an additional 15,083 shares during the last quarter. Franklin Resources Inc. lifted its position in NIO by 50.9% in the second quarter. Franklin Resources Inc. now owns 17,707 shares of the company’s stock worth $61,000 after buying an additional 5,974 shares during the last quarter. Finally, AXA S.A. purchased a new position in NIO during the second quarter worth $64,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NIO has been the topic of several analyst reports. Bank of America upped their price target on shares of NIO from $5.00 to $7.10 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded NIO from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $4.80 to $8.00 in a report on Tuesday, August 26th. Citigroup decreased their price target on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $7.00 price objective on shares of NIO in a report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.73.

NIO Trading Down 2.1%

NIO opened at $5.02 on Monday. The stock’s fifty day moving average is $6.33 and its two-hundred day moving average is $5.46. The company has a market capitalization of $10.48 billion, a P/E ratio of -3.46 and a beta of 1.04. NIO Inc. has a 52 week low of $3.02 and a 52 week high of $8.02. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36.

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.