Renaissance Technologies LLC Buys 5,962,731 Shares of NIO Inc. $NIO

Renaissance Technologies LLC grew its position in shares of NIO Inc. (NYSE:NIO) by 70.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,452,131 shares of the company’s stock after purchasing an additional 5,962,731 shares during the period. Renaissance Technologies LLC’s holdings in NIO were worth $87,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlantic Union Bankshares Corp grew its position in NIO by 98.3% during the 4th quarter. Atlantic Union Bankshares Corp now owns 5,950 shares of the company’s stock worth $30,000 after acquiring an additional 2,950 shares during the last quarter. Allworth Financial LP raised its holdings in shares of NIO by 183.5% during the third quarter. Allworth Financial LP now owns 6,596 shares of the company’s stock valued at $50,000 after acquiring an additional 4,269 shares in the last quarter. Merkkuri Wealth Advisors LLC bought a new position in NIO in the 1st quarter worth $41,000. Arax Advisory Partners raised its stake in NIO by 81.6% in the fourth quarter. Arax Advisory Partners now owns 7,758 shares of the company’s stock worth $40,000 after buying an additional 3,487 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of NIO in the 4th quarter valued at approximately $41,000. Institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America reaffirmed a “neutral” rating and issued a $6.80 target price on shares of NIO in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of NIO in a research note on Friday, May 1st. The Goldman Sachs Group upgraded shares of NIO from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Monday, July 13th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 target price on shares of NIO in a report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.70.

NIO Price Performance

Shares of NYSE NIO opened at $4.49 on Friday. The firm has a market cap of $11.14 billion, a P/E ratio of -8.15 and a beta of 0.90. NIO Inc. has a twelve month low of $4.37 and a twelve month high of $8.02. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 1.94. The company has a 50 day moving average of $5.16 and a 200 day moving average of $5.36.

NIO Profile

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.