Mission Wealth Management LP Buys Shares of 132,400 NIO Inc. $NIO

Mission Wealth Management LP bought a new position in NIO Inc. (NYSE:NIO) during the 3rd quarter, Holdings Channel.com reports. The fund bought 132,400 shares of the company’s stock, valued at approximately $1,009,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of NIO by 148.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,817 shares of the company’s stock worth $37,000 after purchasing an additional 2,877 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in NIO during the third quarter valued at approximately $77,000. Evergreen Capital Management LLC bought a new position in NIO in the third quarter worth approximately $86,000. Clarity Wealth Advisors LLC bought a new position in NIO in the third quarter worth approximately $88,000. Finally, Hoffman Alan N Investment Management purchased a new position in shares of NIO during the 3rd quarter worth $91,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Price Performance

Shares of NIO stock opened at $4.44 on Thursday. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of -3.06 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. The stock’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $5.76. NIO Inc. has a 52 week low of $3.02 and a 52 week high of $8.02.

Wall Street Analysts Forecast Growth

NIO has been the subject of several analyst reports. Citigroup reduced their price objective on NIO from $8.60 to $6.90 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Weiss Ratings restated a “sell (d-)” rating on shares of NIO in a research report on Monday, December 29th. UBS Group downgraded NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays boosted their price objective on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research note on Friday, November 28th. Finally, Macquarie raised shares of NIO from a “neutral” rating to an “outperform” rating and set a $6.10 target price for the company in a report on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.83.

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.