5 Chinese Companies Listed on NYSE/NASDAQ/AMEX

3. NIO Inc. (NYSE: NIO)

Number of Hedge Fund Holders: 28      

NIO Inc. (NYSE: NIO) is an electric carmaker. It is ranked third on our list of 20 Chinese companies listed on NYSE/NASDAQ/AMEX. The company’s shares have returned 257% to investors in the past year. 

On July 1, investment advisory Bank of American maintained a Buy rating on NIO Inc. (NYSE: NIO) stock. The share price of the firm jumped close to 3% after the ratings update and record vehicle delivery numbers posted earlier that week. 

At the end of the first quarter of 2021, 28 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in NIO Inc. (NYSE: NIO), down from 34 in the preceding quarter worth $2.6 billion.

In its Q2 2020 investor letter, McLain Capital, an asset management firm, highlighted a few stocks and NIO Inc. (NYSE: NIO) was one of them. Here is what the fund said:

“Nio, Inc. (NIO): It’s stock up 360% since the beginning of June on no news, and one of our more troublesome short positions, the Chinese electric vehicle manufacturer is valued at a whopping $17bln on trailing revenue of only $1.1bln. In 2019, the business ran a -17% gross margin, a -140% EBITDA margin & burned ~$1.5bln in cash in 2019. The stock has become one of the most popular stocks among retail traders with approximately 250,000 accounts holding the name just on the popular Robinhood trading platform.”