Nikko Asset Management Americas Inc. boosted its position in Niu Technologies (NASDAQ:NIU – Get Rating) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,442,590 shares of the company's stock after acquiring an additional 940,441 shares during the quarter. Nikko Asset Management Americas Inc. owned 7.08% of Niu Technologies worth $44,520,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Niu Technologies by 81.0% during the second quarter. Envestnet Asset Management Inc. now owns 74,468 shares of the company's stock worth $640,000 after purchasing an additional 33,328 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Niu Technologies by 11.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 600,000 shares of the company's stock worth $4,948,000 after purchasing an additional 60,000 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Niu Technologies during the second quarter worth about $31,000. Assenagon Asset Management S.A. acquired a new position in shares of Niu Technologies during the second quarter worth about $2,084,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Niu Technologies by 0.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,263,723 shares of the company's stock worth $10,868,000 after purchasing an additional 9,202 shares in the last quarter. Institutional investors and hedge funds own 40.09% of the company's stock.
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Wall Street Analyst Weigh In
Separately, Citigroup reduced their price objective on Niu Technologies from $14.30 to $6.70 in a research note on Monday, October 10th.
Niu Technologies Stock Performance
Shares of NASDAQ NIU traded down $0.09 during midday trading on Thursday, reaching $2.76. 12,028 shares of the company's stock were exchanged, compared to its average volume of 449,758. Niu Technologies has a 52-week low of $2.65 and a 52-week high of $27.81. The stock has a market capitalization of $212.08 million, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.61 and a beta of 0.73. The business's fifty day moving average price is $4.62 and its two-hundred day moving average price is $6.67.
Niu Technologies (NASDAQ:NIU – Get Rating) last announced its earnings results on Monday, August 15th. The company reported $0.03 earnings per share (EPS) for the quarter. Niu Technologies had a return on equity of 9.88% and a net margin of 3.43%. The business had revenue of $123.56 million for the quarter. Analysts predict that Niu Technologies will post 0.22 earnings per share for the current fiscal year.
About Niu Technologies
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Niu Technologies designs, manufactures, and sells smart electric scooters in the People's Republic of China. The company offers NQi, MQi, UQi, and Gova series electric scooters and motorcycles; KQi series electric kick-scooters; NIU Aero and BQi series e-bikes; RQi and TQi series high-performance motorcycles; and YQi series hybrid motorcycles.
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