Niu Technologies (NASDAQ:NIU) Raised to “Buy” at Smith Barney Citigroup
Posted by Alphonse Anthony on Nov 8th, 2020
Niu Technologies logoNiu Technologies (NASDAQ:NIU) was upgraded by stock analysts at Smith Barney Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a $40.00 price objective on the stock, up from their previous price objective of $23.50. Smith Barney Citigroup’s price objective would suggest a potential upside of 28.04% from the stock’s current price.
A number of other brokerages have also recently weighed in on NIU. Piper Sandler boosted 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. CICC Research started 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. BidaskClub upgraded Niu Technologies from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Niu Technologies in a research note on Friday, October 9th. Finally, Zacks Investment Research upgraded 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $28.94.
NIU stock opened at $31.24 on Friday. The business has a 50 day moving average price of $24.97 and a 200 day moving average price of $18.04. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 114.14, a PEG ratio of 2.54 and a beta of 1.02. Niu Technologies has a fifty-two week low of $6.08 and a fifty-two week high of $34.02.
Niu Technologies (NASDAQ:NIU) last issued its quarterly earnings data on Monday, August 17th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.05. Niu Technologies had a return on equity of 20.01% and a net margin of 7.63%. The company had revenue of $91.29 million during the quarter, compared to analysts’ expectations of $98.55 million. Research analysts predict that Niu Technologies will post 0.42 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Niu Technologies in the second quarter valued at approximately $126,000. Exane Derivatives acquired a new position in Niu Technologies during the second quarter worth $194,000. Envestnet Asset Management Inc. acquired a new position in Niu Technologies during the third quarter worth $205,000. Marshall Wace North America L.P. acquired a new position in Niu Technologies during the second quarter worth $227,000. Finally, Leap Investments LP acquired a new position in Niu Technologies during the second quarter worth $246,000. 18.26% of the stock is currently owned by institutional investors and hedge funds.
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.