Investment analysts at Piper Jaffray Companies started coverage on shares of Niu Technologies (NASDAQ:NIU) in a research report issued on Tuesday, The Fly reports. The firm set an “overweight” rating on the stock.

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

Niu Technologies stock opened at $8.66 on Tuesday. The stock has a 50 day moving average of $9.20 and a two-hundred day moving average of $7.83. Niu Technologies has a twelve month low of $5.33 and a twelve month high of $13.60. The stock has a market capitalization of $667.55 million, a price-to-earnings ratio of 52.82 and a beta of 0.48.

Several hedge funds have recently modified their holdings of NIU. State Street Corp acquired a new position in shares of Niu Technologies during the 3rd quarter worth $104,000. Stevens Capital Management LP acquired a new position in Niu Technologies during the second quarter worth about $106,000. Elephas Investment Management Ltd acquired a new position in Niu Technologies during the second quarter worth about $135,000. Marshall Wace LLP purchased a new position in Niu Technologies in the second quarter valued at about $160,000. Finally, Morgan Stanley increased its holdings in Niu Technologies by 29.8% in the second quarter. Morgan Stanley now owns 43,844 shares of the company’s stock valued at $259,000 after buying an additional 10,054 shares in the last quarter. 8.95% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Cost of Goods Sold (COGS)

The Fly

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