Niu Technologies – (NASDAQ:NIU)’s share price was up 5.3% on Friday . The company traded as high as $9.16 and last traded at $9.10, approximately 210,700 shares changed hands during trading. An increase of 41% from the average daily volume of 149,527 shares. The stock had previously closed at $8.64.
A number of analysts have recently weighed in on NIU shares. ValuEngine upgraded shares of Niu Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Piper Jaffray Companies started coverage on shares of Niu Technologies in a report on Tuesday, December 3rd. They set an “overweight” rating and a $13.00 target price for the company.
The stock’s fifty day moving average price is $8.50 and its two-hundred day moving average price is $8.15. The company has a market capitalization of $642.27 million, a PE ratio of -6.55 and a beta of 0.43.
Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp purchased a new stake in Niu Technologies in the third quarter worth about $104,000. Marshall Wace LLP bought a new position in shares of Niu Technologies during the second quarter valued at approximately $160,000. Morgan Stanley increased its stake in shares of Niu Technologies by 29.8% during the second quarter. Morgan Stanley now owns 43,844 shares of the company’s stock valued at $259,000 after purchasing an additional 10,054 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Niu Technologies during the third quarter valued at approximately $1,347,000. Finally, Yiheng Capital LLC increased its stake in shares of Niu Technologies by 19.4% during the second quarter. Yiheng Capital LLC now owns 3,533,619 shares of the company’s stock valued at $20,884,000 after purchasing an additional 574,135 shares in the last quarter. Institutional investors and hedge funds own 8.92% of the company’s stock.
About Niu Technologies (NASDAQ:NIU)
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.
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