Renaissance Technologies LLC Makes New Investment in Nio Inc - (NYSE:NIO)

Renaissance Technologies LLC purchased a new position in shares of Nio Inc - (NYSE:NIO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 258,700 shares of the company's stock, valued at approximately $1,076,000.

Several other large investors have also made changes to their positions in NIO. Ridgewood Investments LLC acquired a new stake in NIO in the second quarter valued at approximately $25,000. HighPoint Advisor Group LLC bought a new position in NIO during the fourth quarter worth $93,000. Sound Income Strategies LLC raised its stake in NIO by 3,333.3% during the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company's stock worth $46,000 after buying an additional 10,000 shares during the last quarter. Perigon Wealth Management LLC bought a new position in NIO during the first quarter worth $51,000. Finally, Edge Wealth Management LLC acquired a new stake in NIO in the first quarter worth $54,000. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Stock Performance

Shares of NYSE NIO traded up $0.02 during midday trading on Monday, hitting $6.79. The company's stock had a trading volume of 77,885,639 shares, compared to its average volume of 56,494,074. The stock has a fifty day moving average price of $4.78 and a 200 day moving average price of $4.73. Nio Inc - has a one year low of $3.61 and a one year high of $9.57. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of -3.93 and a beta of 1.86.

NIO (NYSE:NIO - Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting analysts' consensus estimates of ($2.21). The business had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. NIO's revenue was up 98.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) EPS. On average, research analysts forecast that Nio Inc - will post -1.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on NIO. Daiwa America upgraded shares of NIO to a "strong-buy" rating in a report on Monday, September 30th. Citigroup reduced their price objective on shares of NIO from $8.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of NIO from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Bank of America boosted their price target on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a report on Thursday, September 5th. Finally, Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NIO currently has an average rating of "Hold" and a consensus target price of $5.93.

NIO 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.