Niu Technologies (NIU) Got Crushed -4.85% Today. Here’s Why

Niu Technologies (NASDAQ:NIU) is a stock to watch today. At current price of $8.34, the shares have already lost -0.42 points (-4.85% lower) from its previous close of $8.76. The stock sets an active trading volume day with a reported 113248 contracts so far this session. NIU shares had a relatively better volume day versus average trading capacity of 169.62 thousand shares, but with a 24.75 million float and a 3.79% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NIU stock indicates that the average analyst price target is $14.56 per share. This means the stock has a potential increase of 74.58% from where the NIU share price has been trading recently which is between $8.62 and $9.2199. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.

The shorts are running away from Niu Technologies (NIU) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in NIU shares. While short interest still represents only 1.31% of NIU’s float, the number of shares shorted have fallen by -81083. The number of shares shorted fell to 242139 shares, down from 323222 shares during the preceding fortnight. With average daily trading volumes at 331714 shares, days to cover decreased to about 1.163313 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Niu Technologies to Participate in Upcoming Investor Conferences” and dated May 14, 2019.

Looking at the current readings for Niu Technologies, the two-week RSI stands at 43.18. This figure suggests that NIU stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NIU readings is similarly very revealing as it has a stochastic reading of 36.12% at this stage. This figure means that NIU share price today is being neutral.

Technical chart claims that Niu Technologies (NIU) would settle between $9.11/share to $9.47/share level. However, if the stock price goes below the $8.51 mark, then the market for Niu Technologies becomes much weaker. If that happens, the stock price might even plunge as low as $8.27 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.05. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Needham, assumed coverage of NIU assigning Buy rating, according to their opinion released on November 29. Citigroup, analysts launched coverage of Niu Technologies (NASDAQ:NIU) stock with a Buy recommendation, according to their flash note issued to investors on November 13.

NIU equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Niu Technologies (NASDAQ:NIU) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.