B. Riley Wealth Advisors Inc. Has $286,000 Holdings in Nio Inc – (NYSE:NIO)

B. Riley Wealth Advisors Inc. cut its position in Nio Inc – (NYSE:NIO) by 22.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,501 shares of the company’s stock after selling 9,375 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NIO were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NIO. PNC Financial Services Group Inc. grew its stake in NIO by 7.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 31,177 shares of the company’s stock valued at $282,000 after buying an additional 2,248 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in NIO in the 3rd quarter worth $146,000. Mariner LLC grew its position in NIO by 11.4% in the 3rd quarter. Mariner LLC now owns 82,747 shares of the company’s stock worth $748,000 after purchasing an additional 8,439 shares during the last quarter. Federated Hermes Inc. acquired a new stake in NIO in the 3rd quarter worth $461,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in NIO in the 3rd quarter worth $2,899,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NIO has been the topic of several research analyst reports. Citigroup decreased their price target on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, June 6th. Bank of America raised 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. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $4.80 to $5.40 in a research report on Wednesday, May 15th. Barclays restated an “underweight” rating and issued a $4.00 price target (down from $5.00) on shares of NIO in a research report on Tuesday, April 2nd. Finally, UBS Group reduced their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating for the company in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, NIO has an average rating of “Hold” and a consensus target price of $7.55.

NIO Trading Up 6.2 %

Shares of NIO stock opened at $4.64 on Thursday. Nio Inc – has a 12-month low of $3.61 and a 12-month high of $16.18. The company has a market capitalization of $7.98 billion, a P/E ratio of -2.75 and a beta of 1.80. The firm has a 50-day moving average price of $4.85 and a 200 day moving average price of $5.73. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55.

NIO (NYSE:NIO) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.05). NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. Research analysts forecast that Nio Inc – will post -1.41 earnings per share for the current fiscal year.

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.