E-scooter maker Niu Technologies down after weak Q3

Niu Technologies

22/11/2021 12:36

** E-scooter maker Niu Technologies' shares  NIU.O  down
3.3% at $23.27 premarket - set to hit their lowest level in more
than a month 
    ** NIU missed both profit and revenue estimates for Q3 ended
September 2021
    ** Co reported revenue of 1.23 bln yuan ($192.13 mln) vs. 
est 1.39 bln yuan and profit of 1.28 yuan per share vs. est 1.79
yuan per share
    ** All 8 brokerages covering the stock rate it "buy" or
higher - Refinitiv data
    ** Their median PT is $40.75 - implying an upside of 69.4%
to last close
    ** Up to Friday's close, stock had fallen 14.2% this year

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))