Ping Capital Management Inc. Takes Position in NIO Inc. (NYSE:NIO)

Ping Capital Management Inc. bought a new stake in shares of NIO Inc. (NYSE:NIO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 80,000 shares of the company's stock, valued at approximately $305,000.

Several other large investors have also recently bought and sold shares of NIO. Jones Financial Companies Lllp grew its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after purchasing an additional 4,332 shares in the last quarter. Raymond James Financial Inc. purchased a new position in NIO during the fourth quarter valued at approximately $1,776,000. Avantax Advisory Services Inc. grew its position in NIO by 23.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 32,637 shares of the company's stock valued at $142,000 after purchasing an additional 6,239 shares in the last quarter. Corient Private Wealth LLC grew its position in NIO by 86.2% during the fourth quarter. Corient Private Wealth LLC now owns 33,689 shares of the company's stock valued at $147,000 after purchasing an additional 15,600 shares in the last quarter. Finally, PDS Planning Inc grew its position in NIO by 13.0% during the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company's stock valued at $99,000 after purchasing an additional 2,627 shares in the last quarter. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Price Performance

NIO stock traded up $0.20 during mid-day trading on Monday, reaching $4.59. 34,004,649 shares of the company were exchanged, compared to its average volume of 49,417,953. The firm has a market cap of $9.57 billion, a PE ratio of -2.83 and a beta of 1.55. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. NIO Inc. has a 12 month low of $3.02 and a 12 month high of $7.71. The company has a fifty day simple moving average of $3.72 and a 200-day simple moving average of $4.02.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on NIO. Citigroup reiterated a "buy" rating on shares of NIO in a research note on Monday, April 28th. Morgan Stanley reiterated a "buy" rating on shares of NIO in a research report on Monday, July 14th. Barclays decreased their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. Mizuho cut their price target on shares of NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, June 3rd. Finally, The Goldman Sachs Group raised shares of NIO from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average 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.