Hsbc Holdings PLC Reduces Stock Position in NIO Inc. $NIO

Hsbc Holdings PLC decreased its position in shares of NIO Inc. (NYSE:NIO) by 68.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,984 shares of the company’s stock after selling 467,398 shares during the quarter. Hsbc Holdings PLC’s holdings in NIO were worth $1,284,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NIO. Atlantic Union Bankshares Corp raised its holdings in NIO by 98.3% during the fourth quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after purchasing an additional 2,950 shares during the last quarter. Arax Advisory Partners boosted its position in NIO by 81.6% during the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after purchasing an additional 3,487 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in NIO in the fourth quarter valued at $41,000. Merkkuri Wealth Advisors LLC acquired a new stake in NIO in the first quarter valued at $41,000. Finally, MV Capital Management Inc. acquired a new stake in NIO in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Price Performance

Shares of NYSE:NIO opened at $4.62 on Tuesday. The business’s fifty day moving average price is $5.13 and its two-hundred day moving average price is $5.36. The stock has a market cap of $11.46 billion, a PE ratio of -8.39 and a beta of 0.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.90 and a current ratio of 1.01. NIO Inc. has a one year low of $4.37 and a one year high of $8.02.

Analyst Ratings Changes

Several research analysts have recently issued reports on NIO shares. Bank of America reaffirmed a “neutral” rating and set a $6.80 price target on shares of NIO in a research note on Thursday, May 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, July 13th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $6.00 target price on shares of NIO in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, NIO has a consensus rating of “Hold” and a consensus price target of $6.70.

NIO 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.