Niu Technologies logoNiu Technologies (NASDAQ:NIU) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday, BidAskClub reports.
Several other research firms also recently commented on NIU. Citigroup downgraded Niu Technologies from a “buy” rating to a “neutral” rating and set a $23.50 price objective for the company. in a research note on Monday, August 17th. Piper Sandler increased their price objective on Niu Technologies from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Niu Technologies in a research note on Friday, October 9th.
CICC Research initiated coverage on Niu Technologies in a research note on Wednesday, October 14th. They issued an “outperform” rating and a $31.00 price objective for the company. Finally, Zacks Investment Research raised Niu Technologies from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Niu Technologies currently has a consensus rating of “Buy” and an average target price of $25.25.
Shares of NIU stock opened at $32.02 on Wednesday. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 114.36, a PEG ratio of 2.53 and a beta of 1.20. The stock has a 50 day simple moving average of $21.90 and a 200-day simple moving average of $16.21. Niu Technologies has a 1-year low of $6.08 and a 1-year high of $33.51.
Niu Technologies (NASDAQ:NIU) last announced its earnings results on Monday, August 17th. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.05. The business had revenue of $91.29 million during the quarter, compared to the consensus estimate of $98.55 million. Niu Technologies had a return on equity of 20.01% and a net margin of 7.63%. On average, research analysts forecast that Niu Technologies will post 0.42 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Niu Technologies by 9.8% during the 1st quarter. Morgan Stanley now owns 2,318,690 shares of the company’s stock worth $16,161,000 after purchasing an additional 206,755 shares during the period. Marshall Wace LLP purchased a new position in shares of Niu Technologies during the 2nd quarter worth $1,586,000. Goldman Sachs Group Inc. grew its holdings in shares of Niu Technologies by 168.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 524,925 shares of the company’s stock worth $8,399,000 after purchasing an additional 329,351 shares during the period. DNB Asset Management AS purchased a new position in shares of Niu Technologies during the 2nd quarter worth $328,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Niu Technologies during the 2nd quarter worth $126,000. Institutional investors and hedge funds own 18.26% of the company’s stock.
About Niu Technologies
Niu Technologies designs, manufactures, and sells smart e-scooters in the People’s Republic of China. It offers N, M, and U series e-scooters with various models or specifications under the NIU brand name. The company sells and services its products through city partner system, as well as through own online store and third-party e-commerce platforms.