Pictet Asset Management Ltd. acquired a new stake in Nio Inc – (NYSE:NIO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 920,963 shares of the company’s stock, valued at approximately $2,348,000. Pictet Asset Management Ltd. owned about 0.09% of NIO at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. NEXT Financial Group Inc lifted its stake in NIO by 50.0% in the second quarter. NEXT Financial Group Inc now owns 15,000 shares of the company’s stock valued at $38,000 after purchasing an additional 5,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in NIO by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 196,818 shares of the company’s stock valued at $502,000 after acquiring an additional 5,100 shares during the period. Claraphi Advisory Network LLC raised its holdings in NIO by 46.5% during the 2nd quarter. Claraphi Advisory Network LLC now owns 23,505 shares of the company’s stock valued at $60,000 after acquiring an additional 7,459 shares during the period. Aries Wealth Management bought a new stake in NIO during the 2nd quarter valued at $33,000. Finally, Sigma Planning Corp bought a new stake in NIO during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 36.93% of the company’s stock.
A number of brokerages have issued reports on NIO. Zacks Investment Research raised shares of NIO from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Tuesday, September 10th. Bank of America cut shares of NIO from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $6.20 to $3.00 in a report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $7.36.
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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