Bridgewater Associates LP Increases Stock Position in Nio Inc - (NYSE:NIO)

Bridgewater Associates LP boosted its stake in Nio Inc - (NYSE:NIO - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,185,674 shares of the company's stock after buying an additional 263,338 shares during the period. Bridgewater Associates LP owned approximately 0.06% of NIO worth $5,170,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NIO. SBI Securities Co. Ltd. acquired a new stake in NIO in the 4th quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC acquired a new position in NIO during the 4th quarter worth about $537,000. Arizona PSPRS Trust purchased a new position in NIO during the 4th quarter valued at about $1,330,000. Principal Financial Group Inc. increased its stake in NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company's stock worth $502,000 after purchasing an additional 43,839 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of NIO during the fourth quarter worth about $1,776,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

NIO Stock Performance

NIO stock traded up $0.01 during midday trading on Friday, hitting $3.53. 23,076,451 shares of the company's stock were exchanged, compared to its average volume of 56,278,669. The firm's 50 day simple moving average is $4.17 and its 200 day simple moving average is $4.57. Nio Inc - has a 12-month low of $3.02 and a 12-month high of $7.71. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of -2.33 and a beta of 1.74.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm earned ($2.81) EPS. The business's revenue was up 15.2% on a year-over-year basis. Equities research analysts predict that Nio Inc - will post -1.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NIO shares. Citigroup reduced their target price on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. HSBC downgraded NIO from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Hsbc Global Res cut shares of NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, Cfra Research upgraded shares of NIO to a "hold" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $5.05.

NIO Company Profile

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.