Raymond James Financial Inc. Buys New Position in Nio Inc – (NYSE:NIO)

Raymond James Financial Inc. purchased a new position in shares of Nio Inc – (NYSE:NIO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 407,344 shares of the company’s stock, valued at approximately $1,776,000.

Several other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company’s stock worth $27,000 after purchasing an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp lifted its position in NIO by 131.8% during the 4th quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company’s stock worth $33,000 after buying an additional 4,332 shares in the last quarter. Trilogy Capital Inc. acquired a new position in shares of NIO during the 4th quarter worth about $45,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of NIO in the 4th quarter valued at about $53,000. Finally, ABC Arbitrage SA bought a new stake in NIO during the fourth quarter worth about $55,000. 48.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NIO. Citigroup decreased their price target on NIO from $8.90 to $8.10 and set a “buy” rating for the company in a research note on Monday, March 24th. Cfra Research raised shares of NIO to a “hold” rating in a research note on Friday, March 21st. Mizuho dropped their price target on shares of NIO from $5.00 to $4.20 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Hsbc Global Res downgraded shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, HSBC cut shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NIO presently has a consensus rating of “Hold” and an average target price of $5.00.

NIO Stock Up 1.7 %

NIO stock opened at $3.82 on Tuesday. Nio Inc – has a twelve month low of $3.57 and a twelve month high of $7.71. The stock has a market cap of $7.96 billion, a P/E ratio of -2.53 and a beta of 1.81. The company’s 50-day moving average price is $4.42 and its two-hundred day moving average price is $4.82. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

NIO (NYSE:NIO) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the business posted ($2.81) earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, analysts expect that Nio Inc – will post -1.43 EPS for the current year.

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.