Raymond James Financial Inc. Takes Position in Nio Inc - (NYSE:NIO)

Raymond James Financial Inc. bought a new stake in Nio Inc - (NYSE:NIO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 407,344 shares of the company's stock, valued at approximately $1,776,000.

A number of other institutional investors have also modified their holdings of the stock. Blue Trust Inc. grew its position in NIO by 138.5% in the 4th 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 last quarter. Jones Financial Companies Lllp boosted its holdings in shares of NIO by 131.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock valued at $33,000 after acquiring an additional 4,332 shares in the last quarter. Trilogy Capital Inc. acquired a new position in shares of NIO during the fourth quarter worth about $45,000. U.S. Capital Wealth Advisors LLC purchased a new position in NIO during the fourth quarter worth about $53,000. Finally, ABC Arbitrage SA acquired a new stake in NIO in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Price Performance

NIO stock traded down $0.29 during midday trading on Friday, reaching $3.46. 77,362,171 shares of the company were exchanged, compared to its average volume of 56,026,052. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of -2.29 and a beta of 1.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm's 50-day simple moving average is $4.38 and its 200-day simple moving average is $4.78. Nio Inc - has a 1 year low of $3.21 and a 1 year high of $7.71.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Friday, March 21st. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.14). The firm had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $20.19 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.81) earnings per share. On average, analysts anticipate that Nio Inc - will post -1.43 EPS for the current year.

Analysts Set New Price Targets

NIO has been the topic of several recent analyst reports. Cfra Research upgraded NIO to a "hold" rating in a research report on Friday, March 21st. Mizuho cut their price objective on NIO from $5.00 to $4.20 and set a "neutral" rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. downgraded NIO from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $7.00 to $4.70 in a report on Tuesday, February 4th. Citigroup lowered their price target on shares of NIO from $8.90 to $8.10 and set a "buy" rating on the stock in a research note on Monday, March 24th. Finally, HSBC cut shares of NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.17.

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.