Tidemark LLC Purchases New Shares in Nio Inc – (NYSE:NIO)

Tidemark LLC bought a new stake in Nio Inc – (NYSE:NIO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,619 shares of the company’s stock, valued at approximately $96,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of NIO in the third quarter valued at about $443,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in NIO by 15.4% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,712 shares of the company’s stock worth $133,000 after buying an additional 1,962 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in NIO during the third quarter worth approximately $1,231,000. Signaturefd LLC increased its position in NIO by 18.0% during the third quarter. Signaturefd LLC now owns 23,292 shares of the company’s stock worth $211,000 after buying an additional 3,559 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in NIO during the third quarter worth approximately $623,000. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Trading Down 8.4 %

NYSE NIO traded down $0.44 during trading on Thursday, hitting $4.80. 56,800,562 shares of the company’s stock traded hands, compared to its average volume of 57,475,473. The stock has a fifty day moving average of $4.81 and a two-hundred day moving average of $6.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.22 and a quick ratio of 1.13. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $16.18. The firm has a market cap of $8.25 billion, a P/E ratio of -2.74 and a beta of 1.92.

NIO (NYSE:NIO) last posted its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter in the prior year, the company posted ($0.51) earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Nio Inc – will post -1.26 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on NIO shares. Bank of America decreased their target price on NIO from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Mizuho reiterated a “neutral” rating and issued a $5.50 price target on shares of NIO in a research note on Monday, March 25th. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $4.80 to $5.40 in a research note on Wednesday, May 15th. UBS Group cut their price target on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Sanford C. Bernstein cut their target price on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.48.

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.