Toronto Dominion Bank Raises Holdings in Nio Inc – (NYSE:NIO)

Toronto Dominion Bank raised its holdings in shares of Nio Inc – (NYSE:NIO) by 1,652,962.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,245 shares of the company’s stock after buying an additional 132,237 shares during the period. Toronto Dominion Bank’s holdings in NIO were worth $883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Main Management ETF Advisors LLC acquired a new position in NIO in the 3rd quarter worth $1,327,000. XTX Topco Ltd bought a new position in shares of NIO in the 3rd quarter worth about $1,178,000. Quadrature Capital Ltd lifted its holdings in NIO by 32.3% in the third quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after acquiring an additional 538,907 shares during the last quarter. Hilltop Holdings Inc. acquired a new position in NIO during the 3rd quarter valued at approximately $130,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in shares of NIO during the third quarter valued at $377,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group cut shares of NIO from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $4.80 to $3.90 in a report on Monday, November 25th. Bank of America boosted their target price on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Citigroup cut their target price on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.71.

NIO Stock Performance

NIO opened at $4.43 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market cap of $7.62 billion, a PE ratio of -2.93 and a beta of 1.77. The business has a fifty day simple moving average of $5.02 and a 200-day simple moving average of $4.83. Nio Inc – has a fifty-two week low of $3.61 and a fifty-two week high of $9.57.

About NIO

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.