WT Asset Management Ltd Purchases New Shares in NIO Inc. $NIO

WT Asset Management Ltd acquired a new position in NIO Inc. (NYSE:NIO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,650,894 shares of the company’s stock, valued at approximately $142,120,000. NIO makes up about 6.6% of WT Asset Management Ltd’s investment portfolio, making the stock its 4th biggest position.

Several other large investors also recently made changes to their positions in the business. Gladstone Institutional Advisory LLC raised its holdings in shares of NIO by 12.8% in the third quarter. Gladstone Institutional Advisory LLC now owns 13,231 shares of the company’s stock valued at $101,000 after buying an additional 1,500 shares during the last quarter. MGO One Seven LLC grew its holdings in NIO by 10.6% during the 3rd quarter. MGO One Seven LLC now owns 16,208 shares of the company’s stock worth $124,000 after acquiring an additional 1,560 shares during the last quarter. Tidal Investments LLC increased its position in NIO by 0.9% in the 2nd quarter. Tidal Investments LLC now owns 287,140 shares of the company’s stock valued at $985,000 after acquiring an additional 2,433 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of NIO by 148.3% in the third quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after acquiring an additional 2,877 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of NIO by 7.2% in the third quarter. Ballentine Partners LLC now owns 43,085 shares of the company’s stock worth $328,000 after acquiring an additional 2,885 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NIO shares. Citigroup decreased their price target on shares of NIO from $8.60 to $6.90 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. UBS Group cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a research note on Thursday, January 15th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $7.00 price target on shares of NIO in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.83.

NIO Trading Up 0.1%

Shares of NIO stock traded up $0.01 during trading on Friday, reaching $4.94. 2,927,368 shares of the company were exchanged, compared to its average volume of 43,526,809. The business has a 50-day moving average price of $4.85 and a 200-day moving average price of $5.77. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of -3.40 and a beta of 1.10. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 2.36. NIO Inc. has a twelve month low of $3.02 and a twelve month high of $8.02.

About NIO

NIO Inc is a pioneer in the premium electric vehicle (EV) segment, dedicated to the design, development and manufacture of smart, high-performance EVs. Established in November 2014 and headquartered in Shanghai, China, the company focuses on integrating cutting-edge electric propulsion, advanced connectivity and autonomous driving technologies into its automotive platforms. NIO’s vision centers on creating a holistic user experience that extends beyond the vehicle itself, encompassing energy services and digital solutions.

The company’s product lineup includes flagship SUVs and sedans such as the ES8, ES6, EC6, ET7 and ET5, each engineered to deliver strong performance, long range and a suite of intelligent driver-assistance features.