Avaii Wealth Management LLC Makes New $557,000 Investment in Nio Inc – (NYSE:NIO)

Avaii Wealth Management LLC purchased a new stake in Nio Inc – (NYSE:NIO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,461 shares of the company’s stock, valued at approximately $557,000.

A number of other hedge funds also recently made changes to their positions in NIO. Electron Capital Partners LLC bought a new position in NIO in the 3rd quarter valued at approximately $37,918,000. Royal London Asset Management Ltd. raised its holdings in NIO by 11.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 2,308,000 shares of the company’s stock worth $20,853,000 after purchasing an additional 245,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in NIO by 7.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,055,591 shares of the company’s stock worth $18,583,000 after purchasing an additional 134,234 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in NIO by 1.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,337,221 shares of the company’s stock worth $12,608,000 after purchasing an additional 13,853 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in NIO by 4.5% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 1,279,198 shares of the company’s stock worth $11,602,000 after purchasing an additional 54,682 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Jefferies Financial Group lowered their price target on shares of NIO from $8.30 to $5.90 and set a “hold” rating for the company in a report on Wednesday, March 6th. UBS Group lowered their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Mizuho reiterated a “neutral” rating and issued a $5.50 price objective on shares of NIO in a research note on Monday, March 25th. Barclays reiterated an “underweight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group began coverage on shares of NIO in a research note on Wednesday, January 3rd. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.43.

NIO Stock Up 1.6 %

NYSE NIO traded up $0.07 during mid-day trading on Monday, hitting $4.56. The company’s stock had a trading volume of 33,273,156 shares, compared to its average volume of 55,179,410. The company’s 50 day simple moving average is $4.99 and its 200 day simple moving average is $6.52. Nio Inc – has a twelve month low of $3.61 and a twelve month high of $16.18. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of -2.57 and a beta of 1.93.

NIO (NYSE:NIO) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($2.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.42). The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $18.16 billion. NIO had a negative return on equity of 110.72% and a negative net margin of 38.09%. NIO’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) earnings per share. Analysts anticipate that Nio Inc – will post -1.26 earnings per share for the current 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.