Niu Technologies (NASDAQ:NIU) Coverage Initiated at Piper Jaffray Companies

Research analysts at Piper Jaffray Companies initiated coverage on shares of Niu Technologies (NASDAQ:NIU) in a research report issued on Tuesday, MarketBeat reports. The brokerage set an “overweight” rating and a $13.00 price target on the stock. Piper Jaffray Companies’ price objective suggests a potential upside of 54.21% from the stock’s current price. Piper Jaffray Companies also issued estimates for Niu Technologies’ Q4 2019 earnings at $0.06 EPS, FY2019 earnings at $0.32 EPS, Q1 2020 earnings at $0.06 EPS, Q2 2020 earnings at $0.13 EPS, Q3 2020 earnings at $0.18 EPS, Q4 2020 earnings at $0.11 EPS, FY2020 earnings at $0.48 EPS and FY2021 earnings at $0.67 EPS.

Separately, ValuEngine upgraded shares of Niu Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday.

Shares of NASDAQ:NIU opened at $8.43 on Tuesday. The company’s 50 day moving average price is $9.17 and its two-hundred day moving average price is $7.82. Niu Technologies has a 12-month low of $5.33 and a 12-month high of $13.60. The firm has a market cap of $627.42 million, a PE ratio of 52.82 and a beta of 0.48.

Several large investors have recently made changes to their positions in NIU. Yiheng Capital LLC lifted its holdings in shares of Niu Technologies by 19.4% during the 2nd quarter. Yiheng Capital LLC now owns 3,533,619 shares of the company’s stock worth $20,884,000 after acquiring an additional 574,135 shares during the period. Botty Investors LLC bought a new stake in shares of Niu Technologies during the 2nd quarter worth approximately $1,033,000. Essex Investment Management Co. LLC bought a new stake in shares of Niu Technologies during the 3rd quarter worth approximately $1,347,000. Morgan Stanley lifted its holdings in shares of Niu Technologies by 29.8% during the 2nd quarter. Morgan Stanley now owns 43,844 shares of the company’s stock worth $259,000 after acquiring an additional 10,054 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Niu Technologies during the 2nd quarter worth approximately $160,000. Hedge funds and other institutional investors own 8.95% of the company’s stock.

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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