Bridgewater Associates LP Has $6.16 Million Holdings in Nio Inc – (NYSE:NIO)

Bridgewater Associates LP reduced its stake in shares of Nio Inc – (NYSE:NIO) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 922,336 shares of the company’s stock after selling 66,636 shares during the quarter. Bridgewater Associates LP’s holdings in NIO were worth $6,161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of NIO in the 2nd quarter valued at approximately $1,076,000. International Assets Investment Management LLC raised its position in shares of NIO by 580.9% in the third quarter. International Assets Investment Management LLC now owns 392,343 shares of the company’s stock valued at $2,621,000 after purchasing an additional 334,723 shares during the period. Signaturefd LLC lifted its stake in shares of NIO by 16.9% in the third quarter. Signaturefd LLC now owns 48,604 shares of the company’s stock worth $325,000 after buying an additional 7,014 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock worth $5,894,000 after buying an additional 343,910 shares during the period. Finally, SIH Partners LLLP grew its stake in NIO by 104.0% in the 2nd quarter. SIH Partners LLLP now owns 663,540 shares of the company’s stock valued at $2,760,000 after buying an additional 338,320 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NIO shares. Wolfe Research started coverage on shares of NIO in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Macquarie lowered NIO from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Citigroup dropped their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.30 to $8.00 in a research report on Friday, September 6th. Finally, Daiwa America upgraded shares of NIO to a “strong-buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.71.

NIO Price Performance

NYSE:NIO opened at $4.48 on Friday. 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 company has a 50-day moving average of $5.42 and a 200-day moving average of $4.88. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $9.57. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of -2.97 and a beta of 1.91.

NIO (NYSE:NIO) last released its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The company’s revenue was up 98.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.51) EPS. As a group, equities research analysts anticipate that Nio Inc – will post -1.39 earnings per share for the current fiscal year.

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.