Goldman Sachs Group Inc. lifted its stake in shares of Niu Technologies – (NASDAQ:NIU) by 168.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 524,925 shares of the company’s stock after acquiring an additional 329,351 shares during the period. Goldman Sachs Group Inc. owned 0.70% of Niu Technologies worth $8,399,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Exane Derivatives acquired a new position in shares of Niu Technologies during the second quarter worth about $194,000. Leap Investments LP acquired a new position in shares of Niu Technologies in the second quarter valued at approximately $246,000. State Street Corp increased its holdings in shares of Niu Technologies by 104.3% in the first quarter. State Street Corp now owns 39,600 shares of the company’s stock valued at $276,000 after purchasing an additional 20,216 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Niu Technologies by 6.7% in the first quarter. Two Sigma Advisers LP now owns 41,300 shares of the company’s stock valued at $288,000 after purchasing an additional 2,600 shares during the period. Finally, DNB Asset Management AS acquired a new position in Niu Technologies during the second quarter worth $328,000. Institutional investors and hedge funds own 18.26% of the company’s stock.
NIU has been the topic of several research reports. Piper Sandler upped their target price on Niu Technologies from $11.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, June 19th. BidaskClub downgraded Niu Technologies from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Zacks Investment Research upgraded Niu Technologies from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, August 19th. Citigroup downgraded Niu Technologies from a “buy” rating to a “neutral” rating and set a $23.50 target price on the stock. in a report on Monday, August 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Niu Technologies in a report on Friday, July 31st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.30.
Shares of NIU stock opened at $20.28 on Wednesday. Niu Technologies – has a 1-year low of $6.08 and a 1-year high of $25.88. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 72.43, a P/E/G ratio of 1.81 and a beta of 1.15. The stock’s fifty day simple moving average is $20.32 and its 200-day simple moving average is $13.50.
Niu Technologies 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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