Niu Technologies (NASDAQ:NIU) Stock Rating Reaffirmed by Needham & Company LLC

Niu Technologies (NASDAQ:NIU)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report released on Friday, Marketbeat.com reports. They currently have a $23.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 9.42% from the company’s current price.

Several other analysts have also commented on NIU. Piper Sandler raised their target price on Niu Technologies from $11.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, June 19th. TheStreet raised Niu Technologies from a “d+” rating to a “c-” rating in a report on Tuesday, April 28th. Zacks Investment Research lowered Niu Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, BidaskClub lowered Niu Technologies from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $17.50.

Niu Technologies stock traded up $1.12 during midday trading on Friday, hitting $21.02. 1,117,439 shares of the company were exchanged, compared to its average volume of 1,391,025. The firm has a market capitalization of $1.56 billion, a PE ratio of 75.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14. Niu Technologies has a fifty-two week low of $6.08 and a fifty-two week high of $25.88. The business has a fifty day simple moving average of $17.73 and a two-hundred day simple moving average of $10.91.

Niu Technologies (NASDAQ:NIU) last posted its earnings results on Monday, May 18th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $32.90 million for the quarter, compared to analyst estimates of $32.71 million. Niu Technologies had a return on equity of 20.72% and a net margin of 7.79%. Equities research analysts expect that Niu Technologies will post 0.29 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its position in shares of Niu Technologies by 9.8% in the first quarter. Morgan Stanley now owns 2,318,690 shares of the company’s stock valued at $16,161,000 after acquiring an additional 206,755 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Niu Technologies in the first quarter valued at approximately $7,266,000. Dalton Investments LLC purchased a new position in shares of Niu Technologies in the first quarter valued at approximately $3,197,000. UBS Group AG lifted its position in shares of Niu Technologies by 7,152.2% in the second quarter. UBS Group AG now owns 228,516 shares of the company’s stock valued at $3,656,000 after acquiring an additional 225,365 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Niu Technologies by 149.2% in the fourth quarter. Renaissance Technologies LLC now owns 197,717 shares of the company’s stock valued at $1,687,000 after acquiring an additional 118,367 shares in the last quarter. 14.43% of the stock is currently owned by institutional investors.

Niu Technologies Company Profile

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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