B. Riley Wealth Advisors Inc. Trims Position in Nio Inc – (NYSE:NIO)

B. Riley Wealth Advisors Inc. decreased its holdings in Nio Inc – (NYSE:NIO) by 57.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,378 shares of the company’s stock after selling 16,626 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NIO were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of NIO in the 3rd quarter worth about $32,000. Ridgewood Investments LLC bought a new position in NIO in the second quarter worth about $25,000. First Trust Direct Indexing L.P. purchased a new stake in NIO in the third quarter worth about $76,000. Apollon Wealth Management LLC bought a new stake in NIO during the 3rd quarter valued at approximately $78,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of NIO during the 3rd quarter worth approximately $92,000. Institutional investors own 48.55% of the company’s stock.

NIO Trading Up 3.2 %

NYSE:NIO opened at $4.54 on Monday. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of -3.01 and a beta of 1.77. 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 company’s 50 day moving average price is $4.87 and its 200-day moving average price is $4.81. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $9.57.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wolfe Research initiated coverage on NIO in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Daiwa America upgraded shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. The Goldman Sachs Group lowered shares of NIO from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Bank of America boosted their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.71.

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.