Rockefeller Capital Management L.P. Sells 109,288 Shares of Nio Inc - (NYSE:NIO)

Rockefeller Capital Management L.P. lessened its holdings in shares of Nio Inc - (NYSE:NIO - Free Report) by 61.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,495 shares of the company's stock after selling 109,288 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in NIO were worth $463,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of NIO during the 3rd quarter valued at about $32,000. Ridgewood Investments LLC purchased a new stake in shares of NIO in the second quarter worth about $25,000. First Trust Direct Indexing L.P. purchased a new position in NIO during the 3rd quarter valued at approximately $76,000. Apollon Wealth Management LLC purchased a new position in NIO during the 3rd quarter valued at approximately $78,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in NIO in the 2nd quarter worth approximately $53,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NIO shares. Macquarie lowered shares of NIO from an "outperform" rating to a "neutral" rating and cut their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. The Goldman Sachs Group downgraded shares of NIO from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the company a "neutral" rating in a research report on Thursday, September 5th. Citigroup reduced their price objective on NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Finally, Wolfe Research assumed coverage on NIO in a research note on Thursday, September 5th. They issued a "peer perform" rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $5.71.

NIO Trading Down 2.0 %

NIO stock traded down $0.09 during mid-day trading on Wednesday, hitting $4.68. The company's stock had a trading volume of 54,371,781 shares, compared to its average volume of 57,131,836. Nio Inc - has a one year low of $3.61 and a one year high of $9.57. The stock has a market cap of $8.04 billion, a PE ratio of -3.10 and a beta of 1.77. The company has a 50 day moving average of $5.15 and a 200-day moving average of $4.84. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO Company 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.