Stock Alert: Niu Technologies Down On Earnings Miss, Outlook

(RTTNews) - Shares of Chinese electric scooter company Niu Technologies (NIU) are down more than 12% Monday morning after missing third-quarter earnings. The company provided fourth-quarter revenue outlook, that fell short of the Street view.

The company reported earnings in the third quarter of $0.15 per share, that missed the average estimate of analysts polled by Thomson Reuters at $0.22 per share.

Revenues for the quarter increased 36.7% year over year to RMB 894.5 million.

For the fourth quarter, NIU expects revenues to be in the range of RMB 565 million to RMB 615 million, an increase of 5% to 15%. The consensus estimate is for 57.2% growth.

NIU is currently trading at $31.30. It has traded in the range of $6.08- $37.44 in the last one year.