Principal Financial Group Inc. Grows Position in Nio Inc – (NYSE:NIO)

Principal Financial Group Inc. boosted its stake in shares of Nio Inc – (NYSE:NIO) by 140.2% during the third quarter, HoldingsChannel.com reports. The firm owned 75,100 shares of the company’s stock after acquiring an additional 43,839 shares during the period. Principal Financial Group Inc.’s holdings in NIO were worth $502,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the third quarter valued at about $32,000. Ridgewood Investments LLC acquired a new stake in NIO in the second quarter valued at approximately $25,000. First Trust Direct Indexing L.P. purchased a new stake in shares of NIO during the third quarter valued at approximately $76,000. Baader Bank Aktiengesellschaft acquired a new position in shares of NIO during the second quarter worth $53,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of NIO in the third quarter valued at $92,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Price Performance

Shares of NIO stock opened at $4.84 on Monday. The firm has a fifty day moving average price of $5.49 and a two-hundred day moving average price of $4.90. Nio Inc – has a fifty-two week low of $3.61 and a fifty-two week high of $9.57. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market cap of $8.32 billion, a PE ratio of -3.21 and a beta of 1.91.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The firm had revenue of $17.45 billion for the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The business’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.51) EPS. Analysts expect that Nio Inc – will post -1.39 EPS for the current year.

Wall Street Analysts Forecast Growth

NIO has been the topic of a number of analyst reports. Wolfe Research initiated coverage on NIO in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. 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 report on Thursday, September 5th. Daiwa America raised shares of NIO to a “strong-buy” rating in a research report on Monday, September 30th. Citigroup cut their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded shares of NIO from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.30 to $8.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.91.

NIO Company 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.