HighPoint Advisor Group LLC Acquires Shares of 10,248 Nio Inc – (NYSE:NIO)

HighPoint Advisor Group LLC bought a new position in Nio Inc – (NYSE:NIO) during the fourth quarter, Holdings Channel.com reports. The fund bought 10,248 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors have also modified their holdings of NIO. Stratos Wealth Partners LTD. grew its stake in NIO by 9.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,075 shares of the company’s stock worth $182,000 after purchasing an additional 1,816 shares in the last quarter. Fountainhead AM LLC increased its stake in shares of NIO by 20.0% during the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock valued at $109,000 after buying an additional 2,012 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of NIO by 11.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,983 shares of the company’s stock valued at $181,000 after acquiring an additional 2,092 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in NIO by 7.8% in the third quarter. PNC Financial Services Group Inc. now owns 31,177 shares of the company’s stock worth $282,000 after acquiring an additional 2,248 shares during the period. Finally, Signaturefd LLC grew its holdings in NIO by 10.5% during the 4th quarter. Signaturefd LLC now owns 25,748 shares of the company’s stock worth $234,000 after acquiring an additional 2,456 shares in the last quarter. 48.55% of the stock is owned by hedge funds and other institutional investors.

NIO Price Performance

Shares of NIO stock opened at $4.30 on Friday. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $16.18. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $4.81 and a 200 day moving average price of $5.79.

NIO (NYSE:NIO) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, equities research analysts predict that Nio Inc – will post -1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NIO shares. Bank of America upped their price target on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. UBS Group dropped their target price on NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Sanford C. Bernstein reduced their price target on NIO from $7.50 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, March 7th. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. Finally, Barclays reiterated an “underweight” rating and issued a $4.00 target price (down from $5.00) on shares of NIO in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIO has a consensus rating of “Hold” and an average target price of $7.55.

NIO Company 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.