NIO’s (NYSE:NIO) lock-up period is set to expire on Monday, March 11th. NIO had issued 160,000,000 shares in its IPO on September 12th. The total size of the offering was $1,001,600,000 based on an initial share price of $6.26. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Several equities analysts have commented on the company. Zacks Investment Research upgraded NIO from a “sell” rating to a “hold” rating in a report on Thursday, February 21st. 86 Research assumed coverage on NIO in a report on Tuesday, January 15th. They set a “sell” rating and a $4.70 price target on the stock. Finally, Deutsche Bank set a $9.00 price target on NIO and gave the company a “buy” rating in a report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.79.
Shares of NIO stock opened at $10.16 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.28 and a current ratio of 2.56. NIO has a 1 year low of $5.61 and a 1 year high of $13.80.
Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of NIO in the third quarter worth $219,000. Virtu Financial LLC acquired a new stake in shares of NIO in the third quarter worth $1,227,000. Warburg Pincus LLC acquired a new stake in shares of NIO in the third quarter worth $193,861,000. Bank of New York Mellon Corp acquired a new stake in shares of NIO in the third quarter worth $8,743,000. Finally, Primavera Capital Management Ltd acquired a new stake in shares of NIO in the third quarter worth $45,639,000. Institutional investors and hedge funds own 15.84% of the company’s stock.
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NIO Company Profile
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China, the United States, Germany, and the United Kingdom. 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.
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