Caprock Group LLC Buys New Shares in Nio Inc – (NYSE:NIO)

Caprock Group LLC bought a new stake in shares of Nio Inc – (NYSE:NIO – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor bought 15,113 shares of the company’s stock, valued at approximately $63,000.

A number of other institutional investors have also recently modified their holdings of NIO. Ridgewood Investments LLC purchased a new position in NIO in the second quarter valued at about $25,000. Newbridge Financial Services Group Inc. raised its stake in shares of NIO by 272.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 9,400 shares of the company’s stock valued at $42,000 after purchasing an additional 6,875 shares during the period. Principal Securities Inc. acquired a new stake in shares of NIO in the fourth quarter valued at about $42,000. Sound Income Strategies LLC raised its stake in NIO by 3,333.3% in the first quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the period. Finally, Perigon Wealth Management LLC purchased a new stake in shares of NIO in the first quarter valued at about $51,000. 48.55% of shares are currently owned by institutional investors.

Analyst upgrades and downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised NIO from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.30 to $8.00 in a research note on Friday, September 6th. Citigroup cut their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America upped their target price on NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating for the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. NIO has an average rating of “Hold” and a consensus price target of $5.93, according to MarketBeat.

Get the latest report on NIO

NIO stocks up 5.1%

Shares of NYSE:NIO opened at $5.55 on Friday. The company’s 50-day simple moving average is $4.35, and its two-hundred-day simple moving average is $4.70. The firm has a market cap of $9.54 billion, a P/E ratio of -3.28 and a beta of 1.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01, and a current ratio of 1.11. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $10.72.

NIO (NYSE:NIO – Get Your Free Report ) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 104.61% and a negative net margin of 32.47%. The company’s quarterly revenue was up 98.9% year over year. In the same quarter last year, the company earned ($0.51) earnings per share. As a group, research analysts forecast that Nio Inc – will post -1.41 EPS for the current fiscal year.

NIO Company Profile

(Free Report)

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-motors, battery packs and components; and race management, technology development, and sales and after-sales management activities. In addition, it provides power solutions for battery charging needs; and other value-added services.

See Also

Want to see what other hedge funds own NIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nio Inc – (NYSE:NIO – Free Report).

Get news and reviews for NIO Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NIO and related companies with MarketBeat.com’s FREE daily email newsletter.