Cobblestone Asset Management LLC Invests $319,000 in NIO Inc. (NYSE:NIO)

Cobblestone Asset Management LLC purchased a new stake in shares of NIO Inc. (NYSE:NIO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 83,850 shares of the company's stock, valued at approximately $319,000.

A number of other institutional investors also recently bought and sold shares of NIO. SBI Securities Co. Ltd. bought a new stake in NIO during the 4th quarter valued at approximately $1,360,000. SIH Partners LLLP lifted its stake in shares of NIO by 23.1% in the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock valued at $4,071,000 after purchasing an additional 175,000 shares during the period. Arizona PSPRS Trust bought a new stake in shares of NIO during the fourth quarter valued at approximately $1,330,000. Raymond James Financial Inc. bought a new stake in shares of NIO during the fourth quarter valued at approximately $1,776,000. Finally, Bridgewater Associates LP grew its stake in NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after purchasing an additional 263,338 shares during the period. 48.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NIO. Citigroup restated a "buy" rating on shares of NIO in a report on Monday, April 28th. The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $3.70 to $3.80 in a research report on Tuesday. Barclays reduced their price objective on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. Mizuho dropped their target price on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Finally, Cfra Research raised NIO to a "hold" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $4.74.

NIO Stock Performance

Shares of NIO opened at $3.42 on Friday. The company has a market cap of $7.13 billion, a price-to-earnings ratio of -2.11 and a beta of 1.62. The business's fifty day simple moving average is $3.79 and its two-hundred day simple moving average is $4.14. NIO Inc. has a 12 month low of $3.02 and a 12 month high of $7.71. The company has a current ratio of 0.84, a quick ratio of 0.69 and a debt-to-equity ratio of 1.89.

NIO (NYSE:NIO - Get Free Report) 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 analysts' expectations of $12.46 billion. During the same period last year, the business earned ($2.39) earnings per share. The company's quarterly revenue was up 21.5% on a year-over-year basis. Research 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.

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