Short Interest in Niu Technologies (NASDAQ:NIU) Drops By 20.3%

Niu Technologies (NASDAQ:NIU) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,260,000 shares, a drop 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 Performance

NASDAQ:NIU traded down $0.01 during midday trading on Friday, reaching $1.86. 268,854 shares of the stock traded hands, compared to its average volume of 479,536. The business has a 50-day moving average of $2.27 and a two-hundred day moving average of $2.05. The stock has a market capitalization of $144.26 million, a PE ratio of -4.23 and a beta of 0.51. Niu Technologies has a 12-month low of $1.57 and a 12-month high of $3.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NIU. XTX Topco Ltd acquired a new position in shares of Niu Technologies during the 3rd quarter valued at about $42,000. Quadrature Capital Ltd purchased a new position in Niu Technologies during the third quarter worth about $57,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Niu Technologies by 35.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 118,124 shares of the company’s stock valued at $272,000 after acquiring an additional 31,012 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Niu Technologies in the 3rd quarter valued at approximately $32,000. Finally, Green Alpha Advisors LLC lifted its holdings in shares of Niu Technologies by 23.9% in the 3rd quarter. Green Alpha Advisors LLC now owns 101,572 shares of the company’s stock worth $234,000 after acquiring an additional 19,574 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

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.