PFG Investments LLC Purchases 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 second quarter, according to its most recent filing with the SEC. The institutional investor owned 57,852 shares of the company’s stock after purchasing an additional 6,404 shares during the period. PFG Investments LLC’s holdings in NIO were worth $241,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hsbc Holdings PLC lifted its holdings 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 purchasing an additional 4,976,403 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in NIO by 5.6% during the 4th quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after purchasing an additional 235,521 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in NIO by 28.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,431,771 shares of the company’s stock worth $10,950,000 after purchasing an additional 535,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in NIO by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,317,758 shares of the company’s stock worth $10,430,000 after purchasing an additional 439,474 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in NIO by 64.6% during the 1st quarter. SG Americas Securities LLC now owns 1,895,544 shares of the company’s stock worth $8,530,000 after purchasing an additional 744,067 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Stock Performance

Shares of NYSE NIO opened at $5.53 on Friday. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of -3.27 and a beta of 1.82. 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 Inc – has a 1-year low of $3.61 and a 1-year high of $10.72. The stock’s 50-day moving average is $4.33 and its 200 day moving average is $4.70.

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

Analyst Upgrades and Downgrades

NIO has been the topic of several recent analyst reports. Citigroup lowered their price target on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.30 to $8.00 in a report on Friday, September 6th. Wolfe Research initiated coverage on NIO in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Bank of America raised their price target on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average price target of $5.93.

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.