83,850 Shares in NIO Inc. (NYSE:NIO) Bought by Cobblestone Asset Management LLC

Cobblestone Asset Management LLC bought a new position in NIO Inc. (NYSE:NIO) during the 1st quarter, Holdings Channel.com reports. The fund bought 83,850 shares of the company’s stock, valued at approximately $319,000.

A number of other large investors have also made changes to their positions in NIO. Jones Financial Companies Lllp increased its stake in shares of NIO by 131.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after purchasing an additional 4,332 shares in the last quarter. Callan Family Office LLC bought a new stake in NIO during the fourth quarter valued at about $44,000. Sava Infond d.o.o. purchased a new stake in NIO in the fourth quarter worth about $44,000. Annex Advisory Services LLC purchased a new stake in NIO in the 1st quarter worth approximately $47,000. Finally, IHT Wealth Management LLC bought a new stake in NIO during the 4th quarter worth approximately $57,000. 48.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NIO. Mizuho dropped their price target on shares of NIO from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, June 3rd. The Goldman Sachs Group raised shares of NIO from a “sell” rating to a “neutral” rating and upped their target price for the stock from $3.70 to $3.80 in a report on Tuesday. Barclays cut their price target on NIO from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Wednesday, June 4th. Cfra Research raised NIO to a “hold” rating in a report on Friday, March 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of NIO in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.74.

NIO Trading Down 0.1%

NIO stock opened at $3.42 on Friday. The firm has a fifty day moving average price of $3.79 and a 200 day moving average price of $4.14. NIO Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $7.71. The firm has a market cap of $7.13 billion, a PE ratio of -2.11 and a beta of 1.62. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.69 and a current ratio of 0.84.

NIO (NYSE:NIO) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.23). NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $12.46 billion. During the same quarter last year, the business earned ($2.39) EPS. NIO’s revenue for the quarter was up 21.5% compared to the same quarter last year. Sell-side analysts anticipate that NIO Inc. will post -1.43 earnings per share for the current fiscal year.

NIO Company 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.