Niu Technologies: Electric Scooter Stock

Niu Technologies (NASDAQ:NIU), founded in 2014, is a rapidly growing electric scooter manufacturer based in China. The company manufactures and sells its smart scooters across the U.S., Europe, and Asia. Its multi-color scooters come with an anti-theft system, offering a range of up to 140 km on a single charge. NIU went public in October 2018 by selling 7 million shares at $9 for total proceeds of $63 million.

The company’s stock traded mostly flat during the first year after going public. However, NIU enjoyed massive growth during 2020, especially in the second half, amid its aggressive expansion strategy and strong demand for its scooters. It opened 182 stores in the third quarter to capitalize on the rising demand for e-scooters.

Meanwhile, the company is also trying to enter new markets to boost its profitability. In its previous quarterly report, NIU’s revenue climbed 36.7 percent on a year-over-year basis to 894.5 million yuan, as e-scooter sales jumped 67.9 percent to 250,889 during the quarter. Overall, NIU stock value has climbed about 370 percent over the past year.

Moreover, NIU stock has been trading higher since the start of 2021. Its share price has soared over 40 percent during the first two weeks of the year. The latest stock rally came after the company reported that it sold 149,705 e-scooters in the fourth quarter, translating to a surge of 40.9 percent on a year-over-year basis.

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NIU sold 137,586 e-scooters in its home market China, representing 91 percent of the total sales, and accounting for a growth of 35 percent from the comparable period of 2019. On the other hand, e-scooters sales in the international markets climbed 179.6 percent on a year-over-year basis to 12,119 in Q4.