Arizona PSPRS Trust Takes Position in Nio Inc - (NYSE:NIO)

Arizona PSPRS Trust purchased a new position in Nio Inc - (NYSE:NIO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 305,000 shares of the company's stock, valued at approximately $1,330,000. NIO accounts for about 0.0% of Arizona PSPRS Trust's portfolio, making the stock its 14th largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of NIO. Toronto Dominion Bank lifted its position in shares of NIO by 1,652,962.5% in the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after acquiring an additional 132,237 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in NIO in the 4th quarter worth $1,360,000. AlphaStar Capital Management LLC purchased a new stake in shares of NIO in the fourth quarter worth about $537,000. FMR LLC boosted its position in shares of NIO by 5,388.5% during the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company's stock valued at $36,038,000 after acquiring an additional 5,296,601 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in NIO during the third quarter valued at $1,327,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NIO Stock Down 3.1 %

Shares of NYSE:NIO traded down $0.11 on Tuesday, reaching $3.26. The company had a trading volume of 23,909,037 shares, compared to its average volume of 56,026,384. The firm's 50 day simple moving average is $4.36 and its 200-day simple moving average is $4.76. Nio Inc - has a 52-week low of $3.18 and a 52-week high of $7.71. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $6.79 billion, a PE ratio of -2.16 and a beta of 1.74.

NIO (NYSE:NIO - Get Free Report) last released its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) 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 analysts' expectations of $20.19 billion. During the same period in the prior year, the firm posted ($2.81) earnings per share. NIO's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, analysts expect that Nio Inc - will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NIO has been the subject of several analyst reports. Cfra Research raised NIO to a "hold" rating in a research note on Friday, March 21st. Mizuho reduced their target price on NIO from $5.00 to $4.20 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Citigroup reduced their target price on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research report on Monday, March 24th. Hsbc Global Res cut NIO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered NIO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. One equities research 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.17.

NIO 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.