Kingswood Wealth Advisors LLC Sells 25,404 Shares of Nio Inc – (NYSE:NIO)

Kingswood Wealth Advisors LLC decreased its holdings in shares of Nio Inc – (NYSE:NIO) by 33.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,209 shares of the company’s stock after selling 25,404 shares during the period. Kingswood Wealth Advisors LLC’s holdings in NIO were worth $230,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bfsg LLC bought a new position in shares of NIO during the 4th quarter worth approximately $33,000. Rakuten Securities Inc. acquired a new stake in NIO in the fourth quarter worth $38,000. Principal Securities Inc. bought a new stake in NIO in the fourth quarter valued at $42,000. Calton & Associates Inc. acquired a new position in shares of NIO during the fourth quarter valued at about $92,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of NIO during the 4th quarter worth about $93,000. Institutional investors and hedge funds own 48.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NIO shares. Citigroup dropped their price target on NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Macquarie started coverage on NIO in a research report on Monday, April 15th. They set a “neutral” rating and a $5.00 target price on the stock. Mizuho reissued a “neutral” rating and issued a $5.50 price target on shares of NIO in a research report on Monday, March 25th. JPMorgan Chase & Co. upgraded shares of NIO from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $4.80 to $5.40 in a report on Wednesday, May 15th. Finally, Bank of America lifted their price objective on shares of NIO from $5.90 to $6.00 and gave the company a “neutral” rating in a report on Friday, June 7th. One equities 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.55.

NIO Trading Down 5.2 %

NYSE:NIO opened at $4.16 on Friday. Nio Inc – has a 52 week low of $3.61 and a 52 week high of $16.18. The firm has a 50-day moving average price of $4.86 and a two-hundred day moving average price of $5.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.15. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -2.46 and a beta of 1.80.

NIO (NYSE:NIO) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts expect 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.