Garden State Investment Advisory Services LLC Sells 41,137 Shares of Nio Inc – (NYSE:NIO)

Garden State Investment Advisory Services LLC lessened its stake in Nio Inc – (NYSE:NIO) by 73.4% in the 4th quarter, HoldingsChannel reports. The fund owned 14,900 shares of the company’s stock after selling 41,137 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in NIO were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of NIO in the fourth quarter valued at approximately $1,360,000. AlphaStar Capital Management LLC acquired a new stake in shares of NIO in the 4th quarter valued at $537,000. Arizona PSPRS Trust bought a new stake in shares of NIO during the fourth quarter worth $1,330,000. Principal Financial Group Inc. lifted its stake in shares of NIO by 140.2% during the third quarter. Principal Financial Group Inc. now owns 75,100 shares of the company’s stock valued at $502,000 after acquiring an additional 43,839 shares during the period. Finally, Raymond James Financial Inc. bought a new position in NIO in the fourth quarter valued at about $1,776,000. 48.55% of the stock is owned by institutional investors.

NIO Trading Down 2.2 %

Shares of NYSE NIO opened at $3.54 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. Nio Inc – has a twelve month low of $3.02 and a twelve month high of $7.71. The company’s fifty day moving average is $4.19 and its 200-day moving average is $4.63. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of -2.34 and a beta of 1.74.

NIO (NYSE:NIO) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.14). NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the company earned ($2.81) earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. Equities research analysts predict that Nio Inc – will post -1.43 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on NIO shares. Cfra Research raised NIO to a “hold” rating in a report on Friday, March 21st. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Mizuho reduced their price objective on shares of NIO from $4.20 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Hsbc Global Res cut shares of NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and cut their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.05.

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.