Niu Technologies (NASDAQ:NIU) Short Interest Down 19.2% in October

Niu Technologies (NASDAQ:NIU) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 888,500 shares, a drop of 19.2% from the October 15th total of 1,100,000 shares. Based on an average daily trading volume, of 296,000 shares, the short-interest ratio is presently 3.0 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. purchased a new stake in shares of Niu Technologies in the third quarter worth about $32,000. Tower Research Capital LLC TRC raised its holdings in shares of Niu Technologies by 1,264.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,982 shares of the company’s stock worth $32,000 after acquiring an additional 7,397 shares in the last quarter. UBS Group AG boosted its position in shares of Niu Technologies by 164.9% during the 1st quarter. UBS Group AG now owns 9,119 shares of the company’s stock valued at $38,000 after acquiring an additional 5,677 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Niu Technologies in the third quarter valued at $43,000. Finally, Virtu Financial LLC bought a new stake in Niu Technologies in the second quarter worth $60,000. Institutional investors own 13.18% of the company’s stock.

Niu Technologies Price Performance

NIU stock opened at $2.20 on Monday. The company’s fifty day moving average price is $2.55 and its 200-day moving average price is $3.39. Niu Technologies has a one year low of $1.94 and a one year high of $6.19.

About Niu Technologies

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.