Geode Capital Management LLC Trims Stake in Nio Inc - (NYSE:NIO)

Geode Capital Management LLC cut its holdings in shares of Nio Inc - (NYSE:NIO - Free Report) by 94.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,564 shares of the company's stock after selling 7,417,861 shares during the period. Geode Capital Management LLC's holdings in NIO were worth $3,123,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new position in shares of NIO during the second quarter worth about $1,076,000. International Assets Investment Management LLC raised its holdings in NIO by 580.9% during the 3rd quarter. International Assets Investment Management LLC now owns 392,343 shares of the company's stock worth $2,621,000 after purchasing an additional 334,723 shares during the last quarter. FMR LLC lifted its position in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the period. Main Management ETF Advisors LLC bought a new stake in shares of NIO in the 3rd quarter valued at $1,327,000. Finally, Signaturefd LLC increased its position in shares of NIO by 16.9% during the third quarter. Signaturefd LLC now owns 48,604 shares of the company's stock worth $325,000 after buying an additional 7,014 shares during the period. 48.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

NIO has been the topic of a number of research analyst reports. Daiwa America raised shares of NIO to a "strong-buy" rating in a research report on Monday, September 30th. The Goldman Sachs Group lowered NIO from a "neutral" rating to a "sell" rating and cut their target price for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut NIO from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, HSBC lowered NIO from a "buy" rating to a "hold" rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $5.71.

NIO Stock Performance

Shares of NYSE NIO traded down $0.18 during trading on Tuesday, reaching $4.53. 61,686,135 shares of the stock traded hands, compared to its average volume of 53,400,359. The company has a 50-day moving average of $4.67 and a 200-day moving average of $4.81. Nio Inc - has a 52-week low of $3.61 and a 52-week high of $8.05. The stock has a market capitalization of $7.79 billion, a P/E ratio of -3.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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.