Marathon Asset Management LP Trims Holdings in NIO Inc. $NIO

Marathon Asset Management LP reduced its position in shares of NIO Inc. (NYSE:NIO) by 60.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 200,000 shares of the company’s stock after selling 300,000 shares during the quarter. NIO accounts for 2.0% of Marathon Asset Management LP’s holdings, making the stock its 13th largest holding. Marathon Asset Management LP’s holdings in NIO were worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of NIO. Aspex Management HK Ltd purchased a new position in shares of NIO during the third quarter valued at approximately $266,700,000. WT Asset Management Ltd acquired a new stake in NIO during the third quarter worth approximately $142,120,000. Ghisallo Capital Management LLC purchased a new stake in NIO in the 3rd quarter worth approximately $91,440,000. Voloridge Investment Management LLC purchased a new stake in NIO in the 3rd quarter worth approximately $89,952,000. Finally, RWC Asset Advisors US LLC acquired a new position in NIO in the 3rd quarter valued at $79,761,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Stock Down 1.1%

Shares of NIO opened at $5.97 on Wednesday. NIO Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $8.02. The company’s fifty day moving average is $4.92 and its two-hundred day moving average is $5.77. The firm has a market cap of $13.71 billion, a PE ratio of -6.15 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 2.08.

Analysts Set New Price Targets

NIO has been the topic of a number of recent analyst reports. Macquarie Infrastructure raised NIO from a “neutral” rating to an “outperform” rating and set a $6.10 price target on the stock in a research note on Thursday, January 15th. Barclays lifted their price objective on NIO from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Friday, November 28th. Bank of America reiterated a “neutral” rating on shares of NIO in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of NIO in a research note on Monday, December 29th. Finally, HSBC upgraded NIO from a “hold” rating to a “buy” rating and lifted their price target for the company from $4.80 to $6.80 in a report on Friday, March 13th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, NIO currently has a consensus rating of “Hold” and an average price target of $6.80.

NIO Company 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.