Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Nio Inc - (NYSE:NIO)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Nio Inc - (NYSE:NIO - Free Report) by 97.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 19,586 shares of the company's stock after selling 700,681 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in NIO were worth $131,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC raised its position in NIO by 11.5% during the 3rd quarter. Ballentine Partners LLC now owns 24,020 shares of the company's stock worth $160,000 after purchasing an additional 2,482 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of NIO by 15.5% during the third quarter. Atomi Financial Group Inc. now owns 19,327 shares of the company's stock valued at $129,000 after purchasing an additional 2,588 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of NIO by 22.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company's stock worth $61,000 after purchasing an additional 2,651 shares in the last quarter. Assenagon Asset Management S.A. increased its position in NIO by 4.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 63,093 shares of the company's stock valued at $262,000 after buying an additional 2,915 shares in the last quarter. Finally, Greenwich Wealth Management LLC boosted its holdings in NIO by 12.9% in the second quarter. Greenwich Wealth Management LLC now owns 29,027 shares of the company's stock worth $121,000 after acquiring an additional 3,315 shares in the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Price Performance

NYSE:NIO traded down $0.40 during trading hours on Tuesday, hitting $4.78. 64,526,910 shares of the company's stock traded hands, compared to its average volume of 57,144,691. The firm has a market cap of $8.21 billion, a P/E ratio of -3.16 and a beta of 1.77. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The business's fifty day simple moving average is $5.20 and its two-hundred day simple moving average is $4.84. Nio Inc - has a 52 week low of $3.61 and a 52 week high of $9.57.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of NIO from a "neutral" rating to a "sell" rating and dropped their price target for the company from $4.80 to $3.90 in a research report on Monday, November 25th. Citigroup reduced their target price on shares of NIO from $8.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on shares of NIO in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. Daiwa America raised shares of NIO to a "strong-buy" rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIO presently has an average rating of "Hold" and an average price target of $5.71.

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.