Kandi Technologies Group (NASDAQ:KNDI) Downgraded by BidaskClub

BidaskClub lowered shares of Kandi Technologies Group (NASDAQ:KNDI) from a hold rating to a sell rating in a report issued on Wednesday, BidAskClub reports.

Kandi Technologies Group stock opened at $7.22 on Wednesday. The stock has a 50-day simple moving average of $4.07 and a 200 day simple moving average of $3.64. The company has a quick ratio of 1.26, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. Kandi Technologies Group has a 12-month low of $2.17 and a 12-month high of $17.40. The stock has a market capitalization of $381.58 million, a price-to-earnings ratio of -90.25 and a beta of 2.40.

Kandi Technologies Group (NASDAQ:KNDI) last released its quarterly earnings results on Friday, June 5th. The company reported ($0.03) earnings per share (EPS) for the quarter. Kandi Technologies Group had a negative net margin of 3.51% and a negative return on equity of 2.23%. The business had revenue of $6.37 million during the quarter.

Large investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its stake in Kandi Technologies Group by 41.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,553 shares of the company’s stock valued at $61,000 after purchasing an additional 4,300 shares during the last quarter. State Street Corp increased its holdings in shares of Kandi Technologies Group by 73.7% in the first quarter. State Street Corp now owns 97,347 shares of the company’s stock worth $255,000 after purchasing an additional 41,295 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Kandi Technologies Group in the first quarter worth about $28,000. Tower Research Capital LLC TRC bought a new stake in shares of Kandi Technologies Group in the first quarter worth about $47,000. Finally, Oxford Asset Management LLP bought a new stake in shares of Kandi Technologies Group in the fourth quarter worth about $62,000. 2.17% of the stock is owned by hedge funds and other institutional investors.

Kandi Technologies Group Company Profile

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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