407,344 Shares in Nio Inc - (NYSE:NIO) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Nio Inc - (NYSE:NIO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 407,344 shares of the company's stock, valued at approximately $1,776,000.

Several other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in shares of NIO by 138.5% during the 4th quarter. Blue Trust Inc. now owns 6,212 shares of the company's stock worth $27,000 after acquiring an additional 3,607 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in 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 buying an additional 4,332 shares during the period. Callan Family Office LLC purchased a new stake in NIO during the fourth quarter valued at about $44,000. Sava Infond d.o.o. acquired a new position in shares of NIO in the fourth quarter worth about $44,000. Finally, Trilogy Capital Inc. purchased a new position in shares of NIO in the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 48.55% of the company's stock.

NIO Stock Up 2.5 %

Shares of NIO traded up $0.10 during mid-day trading on Friday, hitting $4.03. 27,951,052 shares of the company's stock were exchanged, compared to its average volume of 55,404,263. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of -2.67 and a beta of 1.74. The firm has a fifty day moving average of $4.10 and a two-hundred day moving average of $4.42. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. Nio Inc - has a twelve month low of $3.02 and a twelve month high of $7.71.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on NIO. Cfra Research upgraded shares of NIO to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. cut NIO from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $7.00 to $4.70 in a research report on Tuesday, February 4th. Hsbc Global Res lowered NIO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. HSBC cut NIO from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, Citigroup reissued a "buy" rating on shares of NIO in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.05.

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.