Written by Cláudio Afonso | LinkedIn | X
US bank JPMorgan Chase & Co has increased its stake in the electric vehicle maker Nio and closed 2024 holding nearly 4 million shares, an exchange filing showed on Wednesday.
Additionally, the firm sold nearly all of its Put options (-84.4% to 1,200) in the final quarter of 2024 while making a slight reduction (-4.7%) in its Call options to 116,600.
According to the bank’s quarterly portfolio update, JP Morgan Chase acquired 1,575,898 Nio shares in Q4 increasing its position by over 65% to a total of 3,986,722 shares.
JP Morgan Chase started a position in Nio in early 2019 and continued accumulating until the second half of 2020 when its stake crossed 10 million shares. Since then, it has been adjusting its position multiple times.
As of the time of writing, Nio shares are trading 3.7% higher at $4.18. Over the last twelve months, the stock price has fallen about 30%.
Nio’s Institutional Ownership
When Nio’s stock reached its all-time high in January 2021 at $66.99, institutional shareholders were holding about 500 million shares.
As reported in late January, Fintel data shows the company’s institutional ownership ended last year at 229.7 million shares, the lowest level since mid-2019. Back then, the stock traded at a similar price of around $4.
As of Wednesday, Nio has 555 institutional owners and shareholders holding 229,691,620 shares.
Weekly Registrations
The Nio brand registered 1,100 premium EVs between February 3 and 9 in China while its cheaper sub-brand Onvo recorded 370 units of the debut model L60 — data shared by Li Auto showed earlier this week.
The Onvo brand will launch two new SUV models this year while the Nio brand will start China deliveries of its recently launched luxurious sedan, the ET9, in March. Additionally, the EV maker founded by William Li will release refreshed versions of several models of its line up.
Among new energy vehicle (NEV) startups, the Nio brand ranked 9th with the same number of insurance registrations as the Huawei-backed premium brand Aito. Zeekr, another Chinese premium NEV maker, registered 2,400 units.
Registration numbers stayed low across most manufacturers due to ongoing disruptions from the Chinese New Year holiday, which took place from January 28 to February 4.
