Niu Technologies (NASDAQ:NIU) Short Interest Update

Niu Technologies (NASDAQ:NIU) saw a significant growth in short interest in the month of October. As of October 30th, there was short interest totalling 823,100 shares, a growth of 17.0% from the October 15th total of 703,300 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.3% of the company’s shares are sold short.

Large investors have recently modified their holdings of the company. Morgan Stanley increased its holdings in Niu Technologies by 9.8% in the 1st quarter. Morgan Stanley now owns 2,318,690 shares of the company’s stock worth $16,161,000 after buying an additional 206,755 shares in the last quarter. State Street Corp increased its holdings in Niu Technologies by 104.3% in the 1st quarter. State Street Corp now owns 39,600 shares of the company’s stock worth $276,000 after buying an additional 20,216 shares in the last quarter. UBS Group AG increased its holdings in Niu Technologies by 7,152.2% in the 2nd quarter. UBS Group AG now owns 228,516 shares of the company’s stock worth $3,656,000 after buying an additional 225,365 shares in the last quarter. Leap Investments LP bought a new stake in Niu Technologies in the 2nd quarter worth about $246,000. Finally, Goldman Sachs Group Inc. increased its holdings in Niu Technologies by 168.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 524,925 shares of the company’s stock worth $8,399,000 after buying an additional 329,351 shares in the last quarter. Hedge funds and other institutional investors own 18.26% of the company’s stock.

Several brokerages have commented on NIU. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Niu Technologies in a research report on Friday, October 9th. Smith Barney Citigroup raised Niu Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.50 to $40.00 in a research report on Friday, November 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Niu Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.50 to $40.00 in a research report on Friday, November 6th. Piper Sandler raised their price objective on Niu Technologies from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Finally, Citigroup lowered Niu Technologies from a “buy” rating to a “neutral” rating and set a $23.50 price objective for the company. in a research report on Monday, August 17th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Niu Technologies has an average rating of “Buy” and an average target price of $28.94.

Shares of NASDAQ:NIU traded down $0.16 on Friday, hitting $35.73. 3,259,143 shares of the company traded hands, compared to its average volume of 725,438. Niu Technologies has a 52 week low of $6.08 and a 52 week high of $37.44. The stock has a 50 day simple moving average of $28.52 and a 200-day simple moving average of $19.70. The company has a market cap of $2.67 billion, a PE ratio of 127.61, a PEG ratio of 2.54 and a beta of 1.02.

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.

Further Reading: Google Finance Portfolio Tips and Tricks

Receive News & Ratings for Niu Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Niu Technologies and related companies with MarketBeat.com's FREE daily email newsletter.