Niu Technologies -‘s Lock-Up Period Will Expire Tomorrow (NASDAQ:NIU)
Niu Technologies’ (NASDAQ:NIU) lock-up period is set to expire on Wednesday, April 17th. Niu Technologies had issued 7,000,000 shares in its public offering on October 19th. The total size of the offering was $63,000,000 based on an initial share price of $9.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
Separately, Needham & Company LLC set a $12.00 target price on Niu Technologies and gave the stock a “buy” rating in a research note on Tuesday, March 19th.
Shares of NIU stock opened at $10.85 on Tuesday. Niu Technologies has a 1-year low of $6.04 and a 1-year high of $13.60.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in Niu Technologies in the 4th quarter valued at $324,000. Yiheng Capital LLC acquired a new position in Niu Technologies in the 4th quarter valued at $17,728,000. Hsbc Holdings PLC acquired a new position in Niu Technologies in the 4th quarter valued at $1,428,000. Citigroup Inc. acquired a new position in Niu Technologies in the 4th quarter valued at $486,000. Finally, Dean Capital Investments Management LLC acquired a new position in Niu Technologies in the 4th quarter valued at $486,000. 5.02% of the stock is owned by hedge funds and other institutional investors.
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About Niu Technologies
Niu Technologies designs, manufactures, and sells smart e-scooters in the People's Republic of China. It offers N, M, and U series e-scooters with various models or specifications under the NIU brand name. The company sells and services its products through city partner system, as well as through own online store and third-party e-commerce platforms.
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