Kandi Technologies Group Inc (NASDAQ:KNDI)’s share price fell 9.6% on Wednesday . The stock traded as low as $5.50 and last traded at $5.56. 1,958,289 shares were traded during trading, a decline of 22% from the average session volume of 2,503,399 shares. The stock had previously closed at $6.15.
Several research firms recently weighed in on KNDI. BidaskClub cut shares of Kandi Technologies Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 9th. TheStreet upgraded shares of Kandi Technologies Group from a “d+” rating to a “c-” rating in a report on Thursday, August 6th.
The firm has a market capitalization of $300.85 million, a PE ratio of 39.36 and a beta of 2.60. The firm’s fifty day moving average is $7.22 and its two-hundred day moving average is $4.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.71 and a quick ratio of 1.45.
Kandi Technologies Group (NASDAQ:KNDI) last released its quarterly earnings results on Monday, August 10th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $19.44 million for the quarter. Kandi Technologies Group had a net margin of 5.88% and a return on equity of 3.22%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNDI. State Street Corp boosted its stake in Kandi Technologies Group by 73.7% in the first quarter. State Street Corp now owns 97,347 shares of the company’s stock valued at $255,000 after acquiring an additional 41,295 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Kandi Technologies Group in the first quarter valued at about $47,000. Jane Street Group LLC purchased a new position in Kandi Technologies Group in the first quarter valued at about $28,000. Raymond James Financial Services Advisors Inc. boosted its stake in Kandi Technologies Group by 41.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,553 shares of the company’s stock valued at $61,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Stevard LLC purchased a new position in Kandi Technologies Group in the second quarter valued at about $143,000. Hedge funds and other institutional investors own 2.93% of the company’s stock.
About Kandi Technologies Group (NASDAQ:KNDI)
Kandi Technologies Group, Inc, through its subsidiaries, designs, develops, manufactures, and commercializes electric vehicle (EV) products and parts and off-road vehicles in the People's Republic of China and internationally. It offers off-road vehicles, including go-karts, all-terrain vehicles, utility vehicles, and other vehicles for sale to distributors or consumers; and EV parts comprising battery packs, EV drive motors, EV controllers, air conditioners, and other electric products.
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