Raymond James Financial Inc. Buys Shares of 407,344 Nio Inc - (NYSE:NIO)

Raymond James Financial Inc. purchased a new position in shares of Nio Inc - (NYSE:NIO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 407,344 shares of the company's stock, valued at approximately $1,776,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in NIO by 138.5% in the fourth quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock valued at $27,000 after buying an additional 3,607 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of 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 acquiring an additional 4,332 shares during the last quarter. Trilogy Capital Inc. bought a new stake in NIO in the 4th quarter valued at $45,000. U.S. Capital Wealth Advisors LLC bought a new position in NIO during the fourth quarter worth $53,000. Finally, ABC Arbitrage SA acquired a new position in shares of NIO in the fourth quarter valued at $55,000. Institutional investors own 48.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NIO. Cfra Research raised shares of NIO to a "hold" rating in a report on Friday, March 21st. Hsbc Global Res downgraded NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $7.00 to $4.70 in a report on Tuesday, February 4th. Mizuho lowered their price objective on NIO from $5.00 to $4.20 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Citigroup reduced their target price on shares of NIO from $8.90 to $8.10 and set a "buy" rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, NIO presently has a consensus rating of "Hold" and an average target price of $5.17.

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NIO Price Performance

NIO traded down $0.06 during trading on Thursday, hitting $3.74. 22,727,185 shares of the stock traded hands, compared to its average volume of 55,788,382. The business has a 50 day moving average price of $4.40 and a 200 day moving average price of $4.80. The company has a market cap of $7.81 billion, a price-to-earnings ratio of -2.48 and a beta of 1.81. Nio Inc - has a twelve month low of $3.57 and a twelve month high of $7.71. 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 (NYSE:NIO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the company earned ($2.81) earnings per share. NIO's quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts forecast that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

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.