Raymond James Financial Inc. Invests $1.78 Million in Nio Inc – (NYSE:NIO)

Raymond James Financial Inc. purchased a new position in shares of Nio Inc – (NYSE:NIO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 407,344 shares of the company’s stock, valued at approximately $1,776,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its holdings in shares of NIO by 5,388.5% during the third quarter. FMR LLC now owns 5,394,895 shares of the company’s stock worth $36,038,000 after purchasing an additional 5,296,601 shares during the last quarter. Quadrature Capital Ltd lifted its position in NIO by 32.3% during the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock worth $14,756,000 after buying an additional 538,907 shares in the last quarter. SG Americas Securities LLC grew its holdings in NIO by 104.8% during the 4th quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after acquiring an additional 589,082 shares during the last quarter. Swedbank AB increased its position in NIO by 0.8% in the 4th quarter. Swedbank AB now owns 1,068,110 shares of the company’s stock valued at $4,657,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of NIO by 27.7% in the fourth quarter. Handelsbanken Fonder AB now owns 726,014 shares of the company’s stock worth $3,165,000 after acquiring an additional 157,333 shares during the last quarter. 48.55% of the stock is owned by institutional investors and hedge funds.

NIO Stock Performance

Shares of NIO stock opened at $3.82 on Tuesday. The stock has a market cap of $7.96 billion, a PE ratio of -2.53 and a beta of 1.81. The stock has a 50-day moving average of $4.42 and a 200-day moving average of $4.82. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Nio Inc – has a one year low of $3.57 and a one year high of $7.71.

NIO (NYSE:NIO) last posted its 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 during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the business posted ($2.81) earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that Nio Inc – will post -1.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Citigroup lowered their target price 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 NIO to a “hold” rating in a research note on Friday, March 21st. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, HSBC cut NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

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.