Zevenbergen Capital Investments LLC Takes Position in Nio Inc – (NYSE:NIO)
Zevenbergen Capital Investments LLC bought a new position in Nio Inc – (NYSE:NIO) during the 1st quarter, HoldingsChannel.com reports. The fund bought 87,968 shares of the company’s stock, valued at approximately $449,000.
A number of other large investors have also recently made changes to their positions in NIO. Temasek Holdings Private Ltd purchased a new position in NIO in the fourth quarter worth about $264,017,000. Baillie Gifford & Co. boosted its position in NIO by 26.8% in the first quarter. Baillie Gifford & Co. now owns 101,787,049 shares of the company’s stock worth $519,114,000 after purchasing an additional 21,530,655 shares during the last quarter. Norges Bank purchased a new position in NIO in the fourth quarter worth about $85,995,000. Segantii Capital Management Ltd purchased a new position in NIO in the first quarter worth about $21,424,000. Finally, Myriad Asset Management Ltd. purchased a new position in NIO in the first quarter worth about $13,356,000. 27.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE NIO traded down $0.02 during trading on Thursday, hitting $2.53. The company had a trading volume of 532,560 shares, compared to its average volume of 35,696,088. The company has a quick ratio of 1.34, a current ratio of 1.49 and a debt-to-equity ratio of 3.73. Nio Inc – has a 12 month low of $2.50 and a 12 month high of $13.80. The company has a market capitalization of $2.59 billion and a P/E ratio of -0.25.
Several research analysts have issued reports on the company. Bank of America cut NIO from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $6.20 to $3.00 in a research report on Tuesday, May 28th. Zacks Investment Research cut NIO from a “hold” rating to a “sell” rating in a research report on Saturday, April 20th. UBS Group decreased their price objective on NIO from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, Goldman Sachs Group initiated coverage on NIO in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.70 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. NIO presently has an average rating of “Hold” and an average target price of $7.27.
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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.
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