Delap Wealth Advisory LLC Invests $149,000 in Nio Inc – (NYSE:NIO)

Delap Wealth Advisory LLC acquired a new position in shares of Nio Inc – (NYSE:NIO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,225 shares of the company’s stock, valued at approximately $149,000.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in NIO by 580.9% during the third 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 period. Toronto Dominion Bank grew its stake in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company’s stock worth $883,000 after purchasing an additional 132,237 shares during the period. AlphaStar Capital Management LLC acquired a new stake in NIO during the fourth quarter worth approximately $537,000. FMR LLC grew its stake in NIO by 5,388.5% in the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new stake in NIO in the third quarter valued at approximately $1,327,000. 48.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

NIO Stock Performance

Shares of NIO stock opened at $4.45 on Friday. The business’s fifty day simple moving average is $4.35 and its 200 day simple moving average is $4.76. The firm has a market capitalization of $9.28 billion, a P/E ratio of -2.94 and a beta of 1.68. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $7.71. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

About NIO

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.