Jim Simons’ Quant Hedge Fund is Buying These 5 Stocks

1. NIO Inc. (NYSE:NIO)

Simons’ Stake Value: $281.6 million

Percentage of Jim Simons’ 13F Portfolio: 0.35%

Number of Hedge Fund Holders: 34

NIO Inc. (NYSE:NIO) is a multinational automobiles manufacturer based in Shanghai. The company specializes in the development of electric vehicles. NIO Inc. (NYSE:NIO) has a market capitalization of $60.25 billion, and is ranked first on the list of the 10 stocks Jim Simons’ quant hedge fund is buying.

According to the recent 13F Filings, Jim Simons’ Renaissance Technologies holds 5.29 million shares of NIO Inc. (NYSE:NIO), amounting to over $281.6 million in worth and representing 0.35% of the fund’s total portfolio value. By the end of the second quarter of 2021, 34 hedge funds out of the 873 tracked by Insider Monkey held stakes in NIO Inc. (NYSE:NIO) worth roughly $2.06 billion. This is compared to 28 hedge funds in the previous quarter with a total stake value of approximately $1.32 billion.

On August 11, NIO Inc. (NYSE:NIO) issued its earnings report for the second quarter of 2021, with reported earnings per share at -$0.06, surpassing market estimates by $0.05. In addition to this, the company generated revenues of $1.30 billion, beating estimated revenues by $12.26 million.

On September 26, HSBC analyst Yuqian Ding lowered the firm’s price target on Nio to $47 from $69 and kept a Buy rating on the shares.

You can also take a peek at Unknown Billionaire Phill Gross’ Top 10 Stock Picks and Top 10 High Growth Stocks To Buy in 2021.

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