Kandi Technologies Group (NASDAQ:KNDI) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Kandi Technologies Group (NASDAQ:KNDIGet Rating) from a sell rating to a hold rating in a research report report published on Thursday.

Kandi Technologies Group stock opened at $2.56 on Thursday. The company has a market cap of $193.80 million, a PE ratio of 6.92 and a beta of 1.89. The company’s 50-day moving average price is $2.76 and its 200-day moving average price is $3.19. Kandi Technologies Group has a twelve month low of $2.12 and a twelve month high of $6.68.

Kandi Technologies Group (NASDAQ:KNDIGet Rating) last announced its earnings results on Tuesday, March 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. Kandi Technologies Group had a negative return on equity of 2.36% and a net margin of 27.54%. The business had revenue of $28.84 million for the quarter, compared to analysts’ expectations of $32.82 million. As a group, sell-side analysts forecast that Kandi Technologies Group will post -0.45 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP grew its position in shares of Kandi Technologies Group by 384.6% in the 4th quarter. Marshall Wace LLP now owns 1,464,507 shares of the company’s stock valued at $4,701,000 after buying an additional 1,162,327 shares during the last quarter. UBS Group AG raised its position in shares of Kandi Technologies Group by 101.0% during the 3rd quarter. UBS Group AG now owns 8,318 shares of the company’s stock worth $37,000 after purchasing an additional 846,918 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Kandi Technologies Group during the fourth quarter worth about $2,123,000. Ergoteles LLC purchased a new stake in Kandi Technologies Group in the 1st quarter valued at about $897,000. Finally, State Street Corp boosted its holdings in Kandi Technologies Group by 29.5% in the fourth quarter. State Street Corp now owns 1,105,233 shares of the company’s stock valued at $3,548,000 after acquiring an additional 251,986 shares during the last quarter. 8.63% of the stock is currently owned by institutional investors and hedge funds.

About Kandi Technologies Group (Get Rating)

Kandi Technologies Group, Inc 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 all-terrain vehicles, utility vehicles, go-karts, electric scooters, and electric self-balancing scooters, as well as related parts; and EV parts comprising battery packs, body parts, EV controllers, air conditioning units, and other auto parts.

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