Kingswood Wealth Advisors LLC Sells 25,404 Shares of Nio Inc – (NYSE:NIO)

Kingswood Wealth Advisors LLC cut its stake in Nio Inc – (NYSE:NIO) by 33.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,209 shares of the company’s stock after selling 25,404 shares during the period. Kingswood Wealth Advisors LLC’s holdings in NIO were worth $230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Electron Capital Partners LLC raised its stake in NIO by 5.6% during the fourth quarter. Electron Capital Partners LLC now owns 4,429,960 shares of the company’s stock worth $40,180,000 after acquiring an additional 235,521 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in NIO during the 1st quarter valued at about $448,000. Quadrature Capital Ltd acquired a new position in NIO in the fourth quarter valued at about $12,361,000. Van ECK Associates Corp grew its stake in NIO by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 536,774 shares of the company’s stock worth $4,869,000 after buying an additional 47,773 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of NIO by 238.6% during the fourth quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after buying an additional 4,976,403 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.

Analyst Ratings Changes

NIO has been the topic of several recent analyst reports. Jefferies Financial Group reduced their target price on NIO from $8.30 to $5.90 and set a “hold” rating on the stock in a report on Wednesday, March 6th. JPMorgan Chase & Co. upgraded NIO from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Barclays reaffirmed an “underweight” rating and issued a $4.00 price target (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Citigroup decreased their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. Finally, Sanford C. Bernstein dropped their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.55.

NIO Stock Down 5.2 %

Shares of NYSE:NIO opened at $4.16 on Friday. The company has a 50 day moving average of $4.86 and a 200-day moving average of $5.68. Nio Inc – has a one year low of $3.61 and a one year high of $16.18. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of -2.46 and a beta of 1.80. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.03.

NIO (NYSE:NIO) last issued its earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. On average, sell-side analysts forecast that Nio Inc – will post -1.41 earnings per share for the current year.

About NIO

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.