61,461 Shares in Nio Inc – (NYSE:NIO) Acquired by Avaii Wealth Management LLC

Avaii Wealth Management LLC acquired a new position in shares of Nio Inc – (NYSE:NIO) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 61,461 shares of the company’s stock, valued at approximately $557,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AE Wealth Management LLC raised its position in NIO by 91.2% in the third quarter. AE Wealth Management LLC now owns 69,312 shares of the company’s stock valued at $627,000 after purchasing an additional 33,057 shares during the period. Caprock Group LLC purchased a new stake in NIO in the third quarter valued at $157,000. Handelsbanken Fonder AB grew its stake in shares of NIO by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 593,546 shares of the company’s stock valued at $5,366,000 after buying an additional 36,141 shares in the last quarter. Cigna Investments Inc. New grew its stake in shares of NIO by 5.4% in the third quarter. Cigna Investments Inc. New now owns 27,498 shares of the company’s stock valued at $249,000 after buying an additional 1,402 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of NIO in the third quarter valued at $815,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

NIO Stock Performance

Shares of NIO stock traded up $0.07 on Monday, hitting $4.56. The stock had a trading volume of 33,273,156 shares, compared to its average volume of 55,179,410. Nio Inc – has a 52-week low of $3.61 and a 52-week high of $16.18. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of -2.57 and a beta of 1.93. The company’s 50 day moving average price is $4.99 and its 200 day moving average price is $6.52.

NIO (NYSE:NIO) last posted its earnings results on Tuesday, March 5th. The company reported ($2.81) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.42). NIO had a negative net margin of 38.09% and a negative return on equity of 110.72%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $18.16 billion. During the same period in the previous year, the firm posted ($0.51) earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Nio Inc – will post -1.26 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NIO shares. Mizuho reaffirmed a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. UBS Group dropped their price objective on NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Jefferies Financial Group lowered their target price on NIO from $8.30 to $5.90 and set a “hold” rating for the company in a research note on Wednesday, March 6th. The Goldman Sachs Group assumed coverage on NIO in a research note on Wednesday, January 3rd. They set a “neutral” rating for the company. Finally, Barclays reissued an “underweight” rating and set a $4.00 target price (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.43.

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.