Harvest Fund Management Co. Ltd Has $40,000 Stake in NIO Inc. (NYSE:NIO)

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its stake in NIO Inc. by 91.3%, reducing its holdings to $40,000 after selling 110,000 shares in the first quarter.
• Several institutional investors, including SG Americas Securities LLC and Bridgewater Associates LP, increased their stakes in NIO, indicating fluctuating investor interest in the stock.
• NIO reported a quarterly EPS of ($0.45), missing estimates, with revenues of $1.66 billion, despite achieving a year-over-year growth of 21.5%.

Harvest Fund Management Co. Ltd decreased its stake in shares of NIO Inc. (NYSE:NIO - Free Report) by 91.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,421 shares of the company's stock after selling 110,000 shares during the period. Harvest Fund Management Co. Ltd's holdings in NIO were worth $40,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in shares of NIO by 83.3% in the first quarter. SG Americas Securities LLC now owns 2,109,761 shares of the company's stock valued at $8,038,000 after purchasing an additional 958,750 shares during the period. Bridgewater Associates LP boosted its holdings in shares of NIO by 28.6% during the 4th quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock worth $5,170,000 after buying an additional 263,338 shares during the period. SIH Partners LLLP boosted its holdings in shares of NIO by 23.1% during the 4th quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after buying an additional 175,000 shares during the period. Trexquant Investment LP bought a new stake in shares of NIO during the 4th quarter worth $3,305,000. Finally, Krane Funds Advisors LLC boosted its holdings in shares of NIO by 39.4% during the 4th quarter. Krane Funds Advisors LLC now owns 662,100 shares of the company's stock worth $2,887,000 after buying an additional 187,260 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Trading Up 2.9%

NIO stock opened at $5.01 on Friday. The business has a 50 day moving average price of $3.88 and a two-hundred day moving average price of $4.05. The company has a quick ratio of 0.69, a current ratio of 0.84 and a debt-to-equity ratio of 1.89. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of -3.09 and a beta of 1.41. NIO Inc. has a 12 month low of $3.02 and a 12 month high of $7.71.

NIO (NYSE:NIO - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.23). The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The company's revenue was up 21.5% on a year-over-year basis. During the same period last year, the company earned ($2.39) EPS. As a group, equities analysts forecast that NIO Inc. will post -1.43 EPS for the current year.

Analysts Set New Price Targets

NIO has been the subject of several recent analyst reports. Citigroup reaffirmed a "buy" rating on shares of NIO in a report on Monday, April 28th. Barclays lowered their target price on NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. The Goldman Sachs Group raised NIO from a "sell" rating to a "neutral" rating and raised their target price for the company from $3.70 to $3.80 in a report on Tuesday, June 17th. Morgan Stanley reaffirmed a "buy" rating on shares of NIO in a report on Monday, July 14th. Finally, Mizuho lowered 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.

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