Shares of Niu Technologies – (NASDAQ:NIU) dropped 19.1% during trading on Thursday . The company traded as low as $9.22 and last traded at $9.30. Approximately 605,684 shares changed hands during trading, an increase of 436% from the average daily volume of 113,025 shares. The stock had previously closed at $11.49.
Separately, Needham & Company LLC set a $12.00 price target on shares of Niu Technologies and gave the company a “buy” rating in a research report on Tuesday, March 19th.
Niu Technologies (NASDAQ:NIU) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $62.18 million for the quarter.
Several hedge funds have recently added to or reduced their stakes in NIU. Millennium Management LLC bought a new position in shares of Niu Technologies during the 4th quarter worth about $324,000. Citigroup Inc. bought a new position in shares of Niu Technologies during the 4th quarter worth about $486,000. Dean Capital Investments Management LLC bought a new position in shares of Niu Technologies during the 4th quarter worth about $486,000. Hsbc Holdings PLC acquired a new stake in shares of Niu Technologies in the 4th quarter worth about $1,428,000. Finally, Yiheng Capital LLC acquired a new stake in shares of Niu Technologies in the 4th quarter worth about $17,728,000. 5.02% of the stock is currently owned by institutional investors.
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Niu Technologies Company Profile (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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