Principal Financial Group Inc. Increases Holdings in Nio Inc – (NYSE:NIO)

Principal Financial Group Inc. boosted its position in Nio Inc – (NYSE:NIO) by 140.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,100 shares of the company’s stock after buying an additional 43,839 shares during the quarter. Principal Financial Group Inc.’s holdings in NIO were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of NIO by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after acquiring an additional 343,910 shares during the period. Commonwealth Equity Services LLC increased its stake in NIO by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock worth $866,000 after acquiring an additional 3,539 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of NIO in the 2nd quarter valued at about $63,000. PFG Investments LLC boosted its position in shares of NIO by 12.4% during the 2nd quarter. PFG Investments LLC now owns 57,852 shares of the company’s stock valued at $241,000 after acquiring an additional 6,404 shares during the last quarter. Finally, Prudential PLC grew its holdings in shares of NIO by 26.5% during the second quarter. Prudential PLC now owns 506,862 shares of the company’s stock worth $2,109,000 after purchasing an additional 106,125 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Price Performance

Shares of NYSE:NIO opened at $4.63 on Monday. The business has a fifty day moving average price of $4.71 and a 200-day moving average price of $4.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $8.47. The company has a market capitalization of $7.96 billion, a PE ratio of -3.07 and a beta of 1.70.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NIO. The Goldman Sachs Group downgraded shares of NIO from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $4.80 to $3.90 in a report on Monday, November 25th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has a consensus rating of “Hold” and a consensus price target of $5.71.

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.