Meet the new King of EV stocks, NIU Technologies (NASDAQ:NIU). Don’t say I didn’t tell you so.
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The E-scooter giant managed to top earnings and revenue expectations recently when they reported E-Scooter Sales Jump of no less than 68%! Stock price immediately followed.
Is NIU still a good buy?
NIU wants to control the World when it comes to E-scooters. Think I’m exaggerating? Just look at where Dr. Liu (CEO and Chairman of the Board) has taken his vision thus far: On the tech side of things, NIU has cranked out new and innovative products on a regular basis. I’m not talking about a company that gets it right once in a blue moon.
What I’m talking about is E mobility leader. First we got the scooter(s), the two wheeler that made the average scooter look like a big, boring, putty-colored .
The MQi model and UQi model are the only urban mobility products that have won all seven major international design awards in the past 20 yearsNIO.com
Then we were introduced to the 4th generation NIU Energy™ lithium battery technology, which was followed by Urban scooter sharing program.
What the future holds?
Piper Sandler analyst Alexander Potter was very impressed by the business development of Niu. Potter raised the target price from $25 to $31 following the recent numbers. The analyst also increased estimates for 2020 and 2021 to reflect continued COVID-driven demand and market share gains.
Niu has grown rapidly in recent years. From 2016 to 2019, sales climbed by an average of 80 percent per year. In 2019 Niu was profitable for the first time. The trend should continue.
Tesla of E-scooters? Sure, why not?