Ping Capital Management Inc. Purchases Shares of 80,000 NIO Inc. (NYSE:NIO)

Ping Capital Management Inc. purchased a new stake in NIO Inc. (NYSE:NIO - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 80,000 shares of the company's stock, valued at approximately $305,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SIH Partners LLLP boosted its holdings in NIO by 23.1% during the fourth quarter. SIH Partners LLLP now owns 933,700 shares of the company's stock worth $4,071,000 after purchasing an additional 175,000 shares during the last quarter. Arizona PSPRS Trust bought a new position in shares of NIO in the fourth quarter valued at about $1,330,000. Raymond James Financial Inc. bought a new position in shares of NIO in the fourth quarter valued at about $1,776,000. Bridgewater Associates LP raised its position in shares of NIO by 28.6% in the fourth quarter. Bridgewater Associates LP now owns 1,185,674 shares of the company's stock valued at $5,170,000 after purchasing an additional 263,338 shares during the period. Finally, Trexquant Investment LP bought a new position in NIO during the fourth quarter worth about $3,305,000. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Price Performance

NYSE NIO traded down $0.01 on Friday, reaching $4.39. 78,132,544 shares of the company's stock traded hands, compared to its average volume of 53,525,446. The stock has a market cap of $9.16 billion, a PE ratio of -2.71 and a beta of 1.55. NIO Inc. has a 12 month low of $3.02 and a 12 month high of $7.71. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The stock has a 50-day simple moving average of $3.72 and a 200 day simple moving average of $4.02.

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 analysts' consensus estimates of ($0.22) by ($0.23). The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $12.46 billion. NIO had a negative net margin of 35.51% and a negative return on equity of 286.45%. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the company posted ($2.39) EPS. As a group, research analysts predict that NIO Inc. will post -1.43 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on NIO. Barclays reduced their price objective on shares of NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 4th. Cfra Research upgraded shares of NIO to a "hold" rating in a research note on Friday, March 21st. Morgan Stanley reiterated a "buy" rating on shares of NIO in a research note on Monday. Mizuho reduced 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 upgraded shares of NIO from a "sell" rating to a "neutral" rating and raised their price target for the company from $3.70 to $3.80 in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $4.74.

NIO 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.