Niu Technologies (NASDAQ:NIU) Posts Earnings Results

Niu Technologies (NASDAQ:NIUGet Free Report) released its quarterly earnings results on Monday. The company reported ($0.23) earnings per share for the quarter, Zacks reports. Niu Technologies had a negative net margin of 6.48% and a negative return on equity of 14.09%. The firm had revenue of $67.42 million for the quarter. During the same quarter in the previous year, the company earned ($0.07) EPS. Niu Technologies updated its Q1 2024 guidance to EPS.

Niu Technologies Stock Performance

Shares of Niu Technologies stock traded down $0.02 on Tuesday, hitting $1.70. 54,435 shares of the company traded hands, compared to its average volume of 331,464. The business has a 50-day simple moving average of $1.82 and a 200 day simple moving average of $2.21. Niu Technologies has a 52 week low of $1.57 and a 52 week high of $4.82. The stock has a market capitalization of $131.12 million, a P/E ratio of -5.28 and a beta of 0.61.

Hedge Funds Weigh In On Niu Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of NIU. JPMorgan Chase & Co. increased its stake in Niu Technologies by 3,315.9% during the fourth quarter. JPMorgan Chase & Co. now owns 605,426 shares of the company’s stock worth $3,166,000 after acquiring an additional 587,702 shares during the last quarter. State Street Corp grew its stake in Niu Technologies by 74.8% during the 2nd quarter. State Street Corp now owns 1,128,040 shares of the company’s stock worth $4,490,000 after purchasing an additional 482,537 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Niu Technologies by 145.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 813,451 shares of the company’s stock worth $1,781,000 after acquiring an additional 481,915 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Niu Technologies by 52.2% during the 1st quarter. Renaissance Technologies LLC now owns 969,200 shares of the company’s stock worth $9,362,000 after acquiring an additional 332,584 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Niu Technologies during the fourth quarter worth approximately $1,567,000. 13.18% of the stock is currently owned by institutional investors.

About Niu Technologies

(Get Free Report)

Niu Technologies designs, manufactures, and sells smart electric scooters in the People's Republic of China. The company offers RQi, NQi, MQi, SQi, UQi, and Gova series electric scooters and motorcycles; KQi series one kick-scooters; BQi series e-bikes; and Niu Aero Sports Bicycles. It also provides accessories and spare parts under the NIU brand name comprising scooter accessories, such as raincoats, gloves, knee pads, storage baskets and tail boxes, smart phone holders, backrests, and locks; lifestyle accessories, which includes T-shirts, coats, sweaters and hoodies, jeans, hats, bags, jewelry, notebook, badges, key chain, and mugs; and performance upgrade components that comprises of upgraded wheels, shock absorbers, brake calipers, and carbon fiber body panels.

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Earnings History for Niu Technologies (NASDAQ:NIU)

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