Niu Technologies (NASDAQ:NIU) Sees Large Drop in Short Interest

Niu Technologies (NASDAQ:NIU) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,260,000 shares, a decline of 20.3% from the October 31st total of 1,580,000 shares. Based on an average daily trading volume, of 601,900 shares, the days-to-cover ratio is presently 2.1 days.

Niu Technologies Stock Down 0.5 %

Shares of NASDAQ:NIU traded down $0.01 on Friday, reaching $1.86. The company had a trading volume of 268,854 shares, compared to its average volume of 413,115. The stock has a market capitalization of $144.26 million, a P/E ratio of -4.23 and a beta of 0.51. The stock has a 50-day moving average price of $2.27 and a 200 day moving average price of $2.05. Niu Technologies has a twelve month low of $1.57 and a twelve month high of $3.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Niu Technologies in the 2nd quarter valued at approximately $907,000. Acadian Asset Management LLC bought a new stake in shares of Niu Technologies during the second quarter valued at approximately $76,000. Virtu Financial LLC acquired a new position in shares of Niu Technologies in the first quarter valued at $72,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Niu Technologies by 35.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 118,124 shares of the company’s stock worth $272,000 after purchasing an additional 31,012 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Niu Technologies during the third quarter worth $57,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

About Niu Technologies

Niu Technologies designs, manufactures, and sells electric scooters in the People’s Republic of China, Europe, and internationally. The company offers RQi, NQi, MQi, SQi, UQi, F, and Gova series smart electric scooters, motorcycles, mopeds, and bicycles; KQi series kick-scooters; BQi series e-bikes; and Niu Aero Sports Bicycles.