Niu Technologies (NASDAQ:NIU) Shares Shorted: Short Interest Down 49.5% in September

Key Points

• Short interest fell 49.5% in September to 904,460 shares, equal to about 1.3% of outstanding shares and 3.2 days to cover.
• NIU shares traded at $1.91, near the company’s one-year low, while its latest quarterly results showed a wider-than-expected EPS loss despite revenue exceeding analyst estimates.
• Analyst sentiment remains negative: Niu Technologies has a consensus rating of “Reduce”, with one Hold and one Sell rating and a $3.50 consensus price target.

Niu Technologies (NASDAQ:NIU - Get Free Report) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 904,460 shares, a decline of 49.5% from the September 15th total of 1,789,786 shares. Based on an average trading volume of 282,859 shares, the days-to-cover ratio is presently 3.2 days. Approximately 1.3% of the company's shares are sold short.

Niu Technologies Trading Up 0.3%

NIU stock traded up $0.01 during midday trading on Wednesday, reaching $1.91. The company had a trading volume of 45,894 shares, compared to its average volume of 364,350. The company has a 50 day moving average of $2.02 and a two-hundred day moving average of $2.38. Niu Technologies has a 1 year low of $1.79 and a 1 year high of $4.66. The company has a market capitalization of $149.03 million, a P/E ratio of -5.01 and a beta of -0.23.

Niu Technologies (NASDAQ:NIU - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.38). Niu Technologies had a negative net margin of 4.39% and a negative return on equity of 24.20%. The firm had revenue of $212.01 million for the quarter, compared to analyst estimates of $173.23 million.

Hedge Funds Weigh In On Niu Technologies

A hedge fund recently bought a new position in Niu Technologies stock. SmartHarvest Portfolios LLC bought a new position in Niu Technologies (NASDAQ:NIU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,527 shares of the company's stock, valued at approximately $36,000. Hedge funds and other institutional investors own 75.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Niu Technologies from a "strong sell" rating to a "sell" rating in a research note on Saturday. Weiss Ratings restated a "sell (d-)" rating on shares of Niu Technologies in a research report on Monday, September 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Niu Technologies has an average rating of "Reduce" and a consensus price target of $3.50.

Niu Technologies Company Profile

Niu Technologies is a China-based company that designs, manufactures and sells smart electric two-wheelers. Its product portfolio includes electric scooters, mopeds, motorcycles, bicycles and kick scooters, with models marketed under product families such as NQi, MQi, UQi, RQi and KQi. The company combines electric powertrains with connected-vehicle features, including mobile applications and systems designed to support vehicle monitoring, diagnostics and user services.

Founded in 2014, Niu has developed a direct-to-consumer and retail distribution model that serves customers in China and selected international markets.

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