Sound Income Strategies LLC Buys 10,000 Shares of Nio Inc – (NYSE:NIO)

Sound Income Strategies LLC grew its stake in shares of Nio Inc – (NYSE:NIO) by 3,333.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,300 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Sound Income Strategies LLC’s holdings in NIO were worth $46,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. grew its stake in shares of 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 during the last quarter. Fountainhead AM LLC grew its stake in shares of NIO by 20.0% in the fourth quarter. Fountainhead AM LLC now owns 12,047 shares of the company’s stock worth $109,000 after purchasing an additional 2,012 shares during the last quarter. Avantax Advisory Services Inc. grew its stake 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 worth $181,000 after purchasing an additional 2,092 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 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 purchasing an additional 2,248 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of NIO by 10.5% in the fourth quarter. Signaturefd LLC now owns 25,748 shares of the company’s stock worth $234,000 after purchasing an additional 2,456 shares during the last quarter. Institutional investors own 48.55% of the company’s stock.

NIO Stock Performance

Shares of NYSE NIO opened at $4.64 on Thursday. The firm’s 50-day moving average price is $4.85 and its 200-day moving average price is $5.73. Nio Inc – has a 1-year low of $3.61 and a 1-year high of $16.18. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.

NIO (NYSE:NIO) last posted its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts expect that Nio Inc – will post -1.41 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NIO shares. UBS Group reduced their price objective on shares of NIO from $8.00 to $7.20 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Sanford C. Bernstein dropped their target price on shares of NIO from $7.50 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, March 7th. Mizuho restated a “neutral” rating and issued a $5.50 target price on shares of NIO in a report on Monday, March 25th. Barclays restated an “underweight” rating and issued a $4.00 target price (down previously from $5.00) on shares of NIO in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $4.80 to $5.40 in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.