Sequoia Financial Advisors LLC Has $190,000 Stock Position in Nio Inc – (NYSE:NIO)

Sequoia Financial Advisors LLC lowered its stake in Nio Inc – (NYSE:NIO) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,447 shares of the company’s stock after selling 4,275 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in NIO were worth $190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of NIO in the second quarter valued at about $25,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of NIO in the third quarter valued at about $32,000. Baader Bank Aktiengesellschaft bought a new position in NIO during the second quarter worth about $53,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in NIO by 22.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,693 shares of the company’s stock worth $61,000 after purchasing an additional 2,651 shares during the period. Finally, Caprock Group LLC bought a new position in NIO during the second quarter worth about $63,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

NIO Stock Down 3.7 %

NYSE NIO opened at $5.60 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $9.57. The company has a 50 day moving average of $5.33 and a 200-day moving average of $4.85. The company has a market cap of $9.62 billion, a price-to-earnings ratio of -3.31 and a beta of 1.86.

NIO (NYSE:NIO) last released its quarterly earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($2.21). NIO had a negative net margin of 32.47% and a negative return on equity of 104.61%. The company had revenue of $17.45 billion during the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the business earned ($0.51) earnings per share. The firm’s quarterly revenue was up 98.9% on a year-over-year basis. On average, equities research analysts expect that Nio Inc – will post -1.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upgraded NIO from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.30 to $8.00 in a report on Friday, September 6th. Citigroup reduced their price target on NIO from $8.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Macquarie upgraded NIO from a “neutral” rating to an “outperform” rating and set a $6.60 price target for the company in a report on Monday. Bank of America lifted their price target on NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Daiwa America upgraded NIO to a “strong-buy” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIO currently has an average rating of “Hold” and an average price target of $6.11.

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.