The stock of Niu Technologies (NASDAQ:NIU) is now priced at $22.93 and the shares are 0.43 points up or 1.91% higher compared to its previous closing price of $22.5. The stock had 3.032 million contracts set over the past session. NIU shares’ daily volume is compared to its average trading volume at 513627 shares. However, it has a float of 64.43 million and although its performance was 44.88% over the week, it’s one to watch. NIU share price recently placing at $21.23 to $23.7967. However, some brokerage firms have priced the stock below the average, including one that has called 113.27 yen.
The shorts are climbing into the Niu Technologies stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the NIU shares have risen. Short interest in the stock represents just 0.52% of its float, but the volume has raised by 12358. The volume of shorted shares rised to 337033 from 324675 shares over the last two weeks. The average intraday trading volume has been 242587 shares, which means that days to cover moved to roughly 1.389328.
In the last trading session, Niu Technologies (NASDAQ:NIU) raised by $6.93 over the week and gained $11.14 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $25.88. The stock recorded its established 52-week high on 07/08/20.
Since 07/24/19, the stock has traded to a low of $5.33 at 330.21%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Niu Technologies’s two-week RSI is 85.65. This suggests that the stock is oversold at the moment and that NIU shares’ price movement remains not stable. The stochastic readings are equally revealing at 87.08% meaning the NIU share price is currently in oversold territory.
The technical chart shows that the NIU stock will likely settle at between $23.79 and $25.08 per share. However, if the stock dips below $21.22, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $19.94.
Currently, the stock is trading in the green of MACD, with a reading of 4.22. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler though raised target price of NIU stock from $11 to $24 but maintained Overweight recommendation in their June 19 review. Piper Jaffray analysts see the stock as a Overweight with a target price of $ in a flash note released to investors on December 03 initiating covering the stock. Needham analysts see the stock as Buy when the analysts initiated the share price coverage on November 29, placing it at $12.
The average rating for the NIU equity is 1.8 and is currently gathering a bullish momentum. Of 4 analysts tracking Niu Technologies polled by Reuters, 0 rated NIU as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the NIU stock price is 31.12X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 81.1 above the group’s average of 21.4. Niu Technologies has its P/E ratio at 15.2, which means that the stock is currently trading at a premium relative to the 1.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Niu Technologies (NASDAQ:NIU) will decrease by about -97.97%, which will see them reach $676 million. The company’s full-year revenues are, however, expected to increase by about 22.6%, up from $2080 million to $2550 million. NIU’s expected adjusted earnings should surge almost 433.33% to end up at $0.48 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 551.28% to record $2.54/share.