Cobblestone Asset Management LLC Acquires Shares of 83,850 NIO Inc. (NYSE:NIO)

Cobblestone Asset Management LLC purchased a new position in shares of NIO Inc. (NYSE:NIO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 83,850 shares of the company's stock, valued at approximately $319,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after buying an additional 4,332 shares during the period. Callan Family Office LLC bought a new stake in NIO in the fourth quarter valued at approximately $44,000. Sava Infond d.o.o. acquired a new stake in NIO during the 4th quarter valued at approximately $44,000. Annex Advisory Services LLC bought a new position in NIO during the 1st quarter worth approximately $47,000. Finally, IHT Wealth Management LLC acquired a new position in shares of NIO in the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Stock Up 2.2%

Shares of NIO traded up $0.08 during trading hours on Tuesday, reaching $3.51. The stock had a trading volume of 33,287,938 shares, compared to its average volume of 52,660,910. The firm has a 50-day simple moving average of $3.79 and a 200 day simple moving average of $4.13. 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. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -2.16 and a beta of 1.62.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.39) EPS. Equities research analysts predict that NIO Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup reiterated a "buy" rating on shares of NIO in a research report on Monday, April 28th. Mizuho decreased their price target on NIO from $4.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, June 3rd. Cfra Research raised NIO to a "hold" rating in a research note on Friday, March 21st. The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and raised their target price for the stock from $3.70 to $3.80 in a research note on Tuesday, June 17th. Finally, Barclays lowered their target price on NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $4.74.

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.