Nio Inc – (NYSE:NIO) Shares Sold by MCF Advisors LLC

MCF Advisors LLC cut its holdings in shares of Nio Inc – (NYSE:NIO) by 17.0% during the first quarter, HoldingsChannel.com reports. The fund owned 106,891 shares of the company’s stock after selling 21,835 shares during the period. MCF Advisors LLC’s holdings in NIO were worth $481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bfsg LLC purchased a new stake in shares of NIO in the 4th quarter valued at approximately $33,000. Rakuten Securities Inc. purchased a new stake in NIO in the 4th quarter valued at $38,000. Principal Securities Inc. purchased a new position in NIO during the 4th quarter worth $42,000. Sound Income Strategies LLC raised its position in NIO by 3,333.3% during the 1st quarter. Sound Income Strategies LLC now owns 10,300 shares of the company’s stock worth $46,000 after buying an additional 10,000 shares during the last quarter. Finally, Edge Wealth Management LLC purchased a new position in shares of NIO in the 1st quarter valued at about $54,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.

NIO Price Performance

NYSE:NIO traded down $0.23 during trading hours on Friday, reaching $4.16. The company had a trading volume of 47,669,527 shares, compared to its average volume of 39,329,676. The stock has a 50-day moving average of $4.86 and a two-hundred day moving average of $5.69. Nio Inc – has a one year low of $3.61 and a one year high of $16.18. The firm has a market capitalization of $7.15 billion, a PE ratio of -2.46 and a beta of 1.80. 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 earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.48 billion. NIO had a negative return on equity of 111.91% and a negative net margin of 39.38%. Analysts forecast that Nio Inc – will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NIO. Barclays reissued an “underweight” rating and issued a $4.00 price objective (down from $5.00) on shares of NIO in a research note on Tuesday, April 2nd. Citigroup dropped their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. JPMorgan Chase & Co. raised 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. Mizuho reaffirmed a “neutral” rating and issued a $5.50 price objective on shares of NIO in a report on Monday, March 25th. Finally, Jefferies Financial Group reduced 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.55.

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.