Principal Financial Group Inc. Grows Stake in Nio Inc – (NYSE:NIO)

Principal Financial Group Inc. lifted its position in shares of Nio Inc – (NYSE:NIO) by 140.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,100 shares of the company’s stock after acquiring an additional 43,839 shares during the period. Principal Financial Group Inc.’s holdings in NIO were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bayesian Capital Management LP bought a new stake in shares of NIO in the first quarter worth $185,000. B. Riley Wealth Advisors Inc. grew its stake in shares of NIO by 29.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,876 shares of the company’s stock valued at $184,000 after purchasing an additional 9,375 shares during the period. California State Teachers Retirement System increased its position in shares of NIO by 12.4% during the 1st quarter. California State Teachers Retirement System now owns 424,836 shares of the company’s stock valued at $1,912,000 after purchasing an additional 46,987 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of NIO by 33.2% in the 1st quarter. Tidal Investments LLC now owns 254,730 shares of the company’s stock worth $1,146,000 after purchasing an additional 63,491 shares during the period. Finally, Swedbank AB purchased a new position in shares of NIO in the first quarter worth approximately $5,343,000. Institutional investors own 48.55% of the company’s stock.

NIO Price Performance

Shares of NIO stock opened at $4.84 on Monday. The stock has a market capitalization of $8.32 billion, a P/E ratio of -3.21 and a beta of 1.91. The business has a 50 day simple moving average of $5.49 and a two-hundred day simple moving average of $4.90. Nio Inc – has a 12 month low of $3.61 and a 12 month high of $9.57. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 1.01.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting 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 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 business posted ($0.51) EPS. As a group, analysts predict that Nio Inc – will post -1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NIO. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Daiwa America raised NIO to a “strong-buy” rating in a report on Monday, September 30th. Citigroup decreased their price objective on NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Bank of America boosted their price objective on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Wolfe Research initiated coverage on shares of NIO in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.91.

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.