Avantax Advisory Services Inc. Acquires 6,239 Shares of Nio Inc – (NYSE:NIO)

Avantax Advisory Services Inc. grew its stake in Nio Inc – (NYSE:NIO) by 23.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,637 shares of the company’s stock after buying an additional 6,239 shares during the quarter. Avantax Advisory Services Inc.’s holdings in NIO were worth $142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of NIO by 5,388.5% in the 3rd quarter. FMR LLC now owns 5,394,895 shares of the company’s stock valued at $36,038,000 after purchasing an additional 5,296,601 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of NIO during the third quarter valued at about $4,879,000. SG Americas Securities LLC increased its holdings in shares of NIO by 104.8% in the fourth quarter. SG Americas Securities LLC now owns 1,151,011 shares of the company’s stock worth $5,018,000 after buying an additional 589,082 shares during the period. Quadrature Capital Ltd lifted its stake in shares of NIO by 32.3% in the 3rd quarter. Quadrature Capital Ltd now owns 2,209,020 shares of the company’s stock valued at $14,756,000 after acquiring an additional 538,907 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in NIO during the 4th quarter worth approximately $1,776,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on NIO shares. Cfra Research upgraded shares of NIO to a “hold” rating in a report on Friday, March 21st. HSBC cut NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Hsbc Global Res lowered NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Citigroup reduced their target price on NIO from $8.90 to $8.10 and set a “buy” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. downgraded shares of NIO from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $4.70 in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.00.

NIO Price Performance

Shares of NYSE NIO opened at $3.99 on Friday. The company has a 50 day simple moving average of $4.44 and a two-hundred day simple moving average of $4.85. Nio Inc – has a fifty-two week low of $3.61 and a fifty-two week high of $7.71. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of -2.64 and a beta of 1.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

NIO (NYSE:NIO) last announced its quarterly earnings data on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the firm posted ($2.81) EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts expect that Nio Inc – will post -1.43 EPS for the current fiscal year.

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.