Niu Technologies (NASDAQ:NIU) Now Covered by Analysts at Piper Jaffray Companies

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Piper Jaffray Companies assumed coverage on shares of Niu Technologies (NASDAQ:NIU) in a research report report published on Tuesday morning, Benzinga reports. The brokerage issued an overweight rating and a $13.00 price target on the stock.

Separately, ValuEngine raised Niu Technologies from a sell rating to a hold rating in a research note on Tuesday.

NIU stock opened at $8.41 on Tuesday. Niu Technologies has a 12-month low of $5.33 and a 12-month high of $13.60. The company has a market cap of $667.55 million, a price-to-earnings ratio of 52.82 and a beta of 0.48. The company has a 50 day moving average of $9.18 and a two-hundred day moving average of $7.82.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIU. Yiheng Capital LLC increased 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 valued at $20,884,000 after acquiring an additional 574,135 shares during the last quarter. Botty Investors LLC bought a new position in shares of Niu Technologies in the 2nd quarter valued at approximately $1,033,000. Essex Investment Management Co. LLC acquired a new stake in Niu Technologies in the 3rd quarter worth approximately $1,347,000. Marshall Wace LLP acquired a new stake in Niu Technologies in the 2nd quarter worth approximately $160,000. Finally, Elephas Investment Management Ltd bought a new stake in Niu Technologies during the second quarter worth approximately $135,000. Institutional investors own 8.95% of the company’s stock.

About Niu Technologies

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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