11 Best EV Stocks To Buy For The Long Term

9. Niu Technologies (NASDAQ:NIU)

Average Analyst Price Target Upside as of September 11: 22.75%

Number of Hedge Fund Holders: 4

One of the best the best EV stocks to buy, Niu Technologies (NASDAQ:NIU) offers a diverse portfolio that includes electric motorcycles, mopeds, bicycles, and kick-scooters, designed to meet various urban travel needs. The lineup features several series such as the RQi, NQi, MQi, SQi, UQi, and Gova for scooters and motorcycles, the KQi series for kick-scooters, and the BQi series for e-bikes.

In late 2022, the company introduced the BQi-C3 Pro Electric Urban Commuter Bike, known for its dual battery system that allows it to reach speeds of up to 28 MPH and cover distances of 40 to 60 miles on a single charge.

Building on this momentum, the company launched its first fully electric dirt bike, the NIU XQi3, in late 2023. The model caters to both urban and off-road use, featuring a robust 72v32Ah LG lithium-ion battery and a peak power output of 8000 watts. Additionally, in September, the company announced its plan to roll out the KQi 100 series of electric kick scooters, which will be available at major retailers such as Walmart, Best Buy, and Kohl’s.

A key development in Niu’s (NASDAQ:NIU) growth strategy came in July with a significant retail expansion. The company partnered with Best Buy to distribute its electric kick-scooters and e-bikes in over 800 stores across the United States. It aims to increase the visibility and accessibility of the company’s products, promote eco-friendly transportation, and make a substantial impact in the urban mobility sector.

In August, the company reported a 13.5% increase in revenues year-over-year, reaching RMB 940.5 million. During the same period, sales of e-scooters surged by 20.8% year-over-year, with a total of 256,162 units sold.

The number of franchised stores in China also grew, reaching 3,124 by June 30. According to CEO Dr. Yan Li, new product launches this year have been successful, contributing to over 50% of the company’s growing domestic sales in the first half of the year. It is this success that shows the company’s effective approach to meeting diverse consumer demands and strengthening its position in the Chinese market.

Niu (NASDAQ:NIU) has received a consensus Buy rating from 3 analysts. As of September 11, the average price target of $2.22 has an upside of 22.75% to the present levels.

According to our database, 4 hedge funds held stakes in Niu (NASDAQ:NIU) in Q2, with positions worth $3.065 million. With 1.13 million shares of the company, valued at $1.966 million, Polunin Capital is the largest shareholder of the company, as of June 30.