PFG Investments LLC Buys 6,404 Shares of Nio Inc – (NYSE:NIO)

PFG Investments LLC increased its stake in shares of Nio Inc – (NYSE:NIO) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,852 shares of the company’s stock after acquiring an additional 6,404 shares during the quarter. PFG Investments LLC’s holdings in NIO were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NIO. Hsbc Holdings PLC grew its position in NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of NIO in the 4th quarter worth approximately $12,361,000. Swedbank AB bought a new stake in shares of NIO in the 1st quarter worth approximately $5,343,000. Norges Bank bought a new stake in shares of NIO in the 4th quarter worth approximately $9,652,000. Finally, AMF Tjanstepension AB grew its position in shares of NIO by 132.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,562,200 shares of the company’s stock worth $7,030,000 after buying an additional 889,900 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NIO. Wolfe Research began coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Bank of America lifted their price objective on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Citigroup cut their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.30 to $8.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, NIO has a consensus rating of “Hold” and an average price target of $5.93.

NIO Stock Up 4.7 %

Shares of NYSE:NIO opened at $5.53 on Friday. The stock has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $4.70. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of -3.27 and a beta of 1.82. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $10.72. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

NIO (NYSE:NIO) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.21). The business had revenue of $17.45 billion during the quarter, compared to analysts’ expectations of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.51) earnings per share. On average, research analysts anticipate that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

About NIO

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.