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An Under the Radar Chinese Electric Vehicle Stock Wall Street Predicts Will Double -Breaking

by Mike Robinson

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© Reuters. Wall Street predicts that the Chinese Electric Vehicle Stock Wall Street will double its Under-the-radar value

Chinese e-scooter maker Niu Technologies (NASDAQ) Although it isn’t a household name in the EV market, the company has sold several vehicles over the past months. Wall Street analysts predict that the stock will double in value in the short term. So, read on for details on why this stock could be a good addition to one’s watchlist.Beijing, China-based Niu Technologies (NIU) is a smart urban mobility solutions provider. The company’s offerings include NQi, MQi, UQi, and NIU Aero. The company has now expanded to 38 countries and opened retail outlets in cities across Asia, Europe, Latin America. The company’s third quarter revenue, which ended September 30, 2020, increased by 37.1%, to $190.33m, while net income was $14.23m, an increase of 14.6%. The company’s total number of escooter units sold increased by 58.3% over the year to 397.079 units.

But the stock declined in price after the company reported its third-quarter financials on November 22 because its revenue and EPS failed to meet analysts’ expectations. The stock has declined 35.1% in price over the past month to close yesterday’s trading session at $17.07.

NIU still provided positive perspectives for the fourth-quarter. The company’s fourth-quarter revenue is estimated to range between RMB 840 million ($131.93million) and RMB 901 million ($142.92million). It also anticipates that the company will see an improvement in current international shipping difficulties during the fourth quarter.

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