(Ticker Report) – Niu Technologies (NASDAQ:NIU) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 703,300 shares, a drop of 58.1% from the September 30th total of 1,680,000 shares.
Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 951,600 shares, the days-to-cover ratio is presently 0.7 days.
NIU stock opened at $26.27 on Friday. The company’s 50-day moving average price is $23.62 and its two-hundred day moving average price is $17.28. Niu Technologies has a 12 month low of $6.08 and a 12 month high of $33.51. The firm has a market cap of $1.96 billion, a P/E ratio of 93.82, a P/E/G ratio of 2.42 and a beta of 1.20.
Niu Technologies (NASDAQ:NIU) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Niu Technologies had a net margin of 7.63% and a return on equity of 20.01%. The company had revenue of $91.29 million for the quarter, compared to the consensus estimate of $98.55 million. As a group, equities research analysts forecast that Niu Technologies will post 0.42 EPS for the current fiscal year.
NIU has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Niu Technologies from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. BidaskClub lowered shares of Niu Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. CICC Research initiated coverage on shares of Niu Technologies in a research report on Wednesday, October 14th. They set an “outperform” rating and a $31.00 price target on the stock. Zacks Investment Research raised shares of Niu Technologies from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, August 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Niu Technologies in a report on Friday, October 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Niu Technologies currently has a consensus rating of “Buy” and an average price target of $25.25.
Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in Niu Technologies during the 2nd quarter worth approximately $126,000. Exane Derivatives acquired a new stake in Niu Technologies during the 2nd quarter worth approximately $194,000. Envestnet Asset Management Inc. acquired a new stake in Niu Technologies during the 3rd quarter worth approximately $205,000. Marshall Wace North America L.P. acquired a new stake in Niu Technologies during the 2nd quarter worth approximately $227,000. Finally, Leap Investments LP acquired a new stake in Niu Technologies during the 2nd quarter worth approximately $246,000. Institutional investors own 18.26% of the company’s stock.
About Niu Technologies
Niu Technologies designs, manufactures, and sells smart electric-scooters in the People’s Republic of China. The company offers NQi, MQi, UQi, and Gova series e-scooters; RQi and TQi series urban commuter electric motorcycles; and NIU Aero series professional mountain and road bicycles under the NIU brand name.