AlphaStar Capital Management LLC Acquires Shares of 123,270 Nio Inc - (NYSE:NIO)

AlphaStar Capital Management LLC bought a new stake in shares of Nio Inc - (NYSE:NIO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 123,270 shares of the company's stock, valued at approximately $537,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Telos Capital Management Inc. bought a new stake in NIO during the 4th quarter valued at $59,000. Trilogy Capital Inc. bought a new stake in NIO during the 4th quarter valued at $45,000. Tempus Wealth Planning LLC bought a new stake in NIO during the 4th quarter valued at $173,000. U.S. Capital Wealth Advisors LLC bought a new stake in NIO during the 4th quarter valued at $53,000. Finally, Spire Wealth Management boosted its position in shares of NIO by 348.1% in the 4th quarter. Spire Wealth Management now owns 21,499 shares of the company's stock worth $94,000 after purchasing an additional 16,701 shares in the last quarter. Institutional investors own 48.55% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NIO. The Goldman Sachs Group cut NIO from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. HSBC cut NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Macquarie cut NIO from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $6.60 to $4.80 in a research report on Wednesday, November 20th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $5.38.

NIO Stock Performance

NIO stock traded up $0.17 during midday trading on Wednesday, reaching $4.21. The stock had a trading volume of 72,985,008 shares, compared to its average volume of 43,588,410. The stock has a market cap of $8.79 billion, a PE ratio of -2.79 and a beta of 1.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a fifty day simple moving average of $4.40 and a two-hundred day simple moving average of $4.75. Nio Inc - has a 52-week low of $3.61 and a 52-week high of $7.71.

NIO Profile

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.