Bridgewater Associates LP Purchases 263,338 Shares of Nio Inc – (NYSE:NIO)

Bridgewater Associates LP lifted its position in shares of Nio Inc – (NYSE:NIO) by 28.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,185,674 shares of the company’s stock after buying an additional 263,338 shares during the quarter. Bridgewater Associates LP’s holdings in NIO were worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in NIO by 138.5% in the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock valued at $27,000 after buying an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock valued at $33,000 after acquiring an additional 4,332 shares in the last quarter. Sava Infond d.o.o. bought a new position in NIO during the fourth quarter worth about $44,000. Callan Family Office LLC acquired a new stake in NIO in the 4th quarter worth about $44,000. Finally, Trilogy Capital Inc. bought a new stake in NIO in the 4th quarter valued at about $45,000. 48.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NIO. Cfra Research raised shares of NIO to a “hold” rating in a report on Friday, March 21st. JPMorgan Chase & Co. cut NIO from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. HSBC cut NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Mizuho cut their price objective on shares of NIO from $4.20 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus target price of $5.05.

NIO Stock Performance

NYSE:NIO opened at $3.53 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $7.36 billion, a PE ratio of -2.33 and a beta of 1.74. Nio Inc – has a twelve month low of $3.02 and a twelve month high of $7.71. The stock’s 50-day simple moving average is $4.18 and its 200 day simple moving average is $4.61.

NIO (NYSE:NIO) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $20.19 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.81) earnings per share. On average, analysts anticipate that Nio Inc – will post -1.43 EPS 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.