Notable Price Action: Could Kandi Technologies Group Inc Crash Even More? The Stock Just Made Yearly Low

Notable Price Action: Could Kandi Technologies Group Inc Crash Even More? The Stock Just Made Yearly Low

The stock of Kandi Technologies Group Inc (NASDAQ:KNDI) hit a new 52-week low and has $2.97 target or 14.00% below today’s $3.45 share price. The 7 months bearish chart indicates high risk for the $162.78 million company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $2.97 price target is reached, the company will be worth $22.79 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 788,694 shares traded hands or 136.91% up from the average. Kandi Technologies Group Inc (NASDAQ:KNDI) has declined 48.14% since April 12, 2016 and is downtrending. It has underperformed by 53.12% the S&P500.

According to Zacks Investment Research, “KANDI TECHNOLOGIES, CORP. is a PRC (China)-based vehicle machinery producer, concentrating on three areas of small vehicle production: go-karts, special purpose vehicles and casual purpose vehicles. At present, it is among the leading producers of go-karts in the world, with an estimated 15% share of China’s global export market and a goal of doubling this share, in large part by becoming the leading producer of this increasingly popular recreational product in China. Focusing on the country’s rapid economic development, the Company also sees an increasing need for transportation vehicles for specific purposes, in particular, mini-size pesticide spraying vehicles and mini-service vehicles. Additionally, the Company produces a wide and growing range of All Terrain Vehicles which it believes represent the highest quality vehicles of this type in China, aimed at the export market as well as the rapidly growing market in the PRC.”

Insitutional Activity: The institutional sentiment decreased to 0.74 in 2016 Q2. Its down 0.50, from 1.24 in 2016Q1. The ratio turned negative, as 7 funds sold all Kandi Technologies Group Inc shares owned while 12 reduced positions. 5 funds bought stakes while 9 increased positions. They now own 1.51 million shares or 6.01% less from 1.60 million shares in 2016Q1.
Geode Management Limited Liability accumulated 17,770 shares or 0% of the stock. Goldman Sachs Group accumulated 0% or 15,209 shares. Wealthtrust has 575 shares for 0% of their US portfolio. Fin Architects Inc has 0% invested in the company for 1,000 shares. The Pennsylvania-based Susquehanna Intl Grp Inc Llp has invested 0% in Kandi Technologies Group Inc (NASDAQ:KNDI). Wells Fargo & Comm Mn last reported 0% of its portfolio in the stock. Creative Planning reported 10,002 shares or 0% of all its holdings. Next Gru last reported 300 shares in the company. Moreover, Us State Bank De has 0% invested in Kandi Technologies Group Inc (NASDAQ:KNDI) for 53 shares. Parallax Volatility Advisers Lp accumulated 0% or 3 shares. Walleye Trading Lc, a Minnesota-based fund reported 970 shares. Mizuho Secs Usa last reported 105,400 shares in the company. Da Davidson And Co holds 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI) for 500 shares. Citigroup has 2,161 shares for 0% of their US portfolio. Bancshares Of America De holds 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI) for 3,180 shares.

Insider Transactions: Since September 9, 2016, the stock had 1 insider buy, and 0 selling transactions for $2,056 net activity. Wang Cheng(Henry) also bought $2,056 worth of Kandi Technologies Group Inc (NASDAQ:KNDI) shares.

More notable recent Kandi Technologies Group Inc (NASDAQ:KNDI) news were published by: Streetinsider.com which released: “Kandi Technologies Group (KNDI) Announces Two Key Executive Appointments” on November 14, 2016, also Nasdaq.com with their article: “Earnings Reaction History: Kandi Technologies Group, Inc., 40.0% Follow …” published on November 09, 2016, Fool.com published: “Kandi Technologies Group, Inc. Earnings Plummet 99% on Tax Exemption Issues” on May 17, 2016. More interesting news about Kandi Technologies Group Inc (NASDAQ:KNDI) were released by: Fool.com and their article: “Kandi Technologies Group, Inc. Warns 2016 Sales Could Fall Short” published on August 18, 2016 as well as Fool.com‘s news article titled: “Kandi Technologies Group, Inc. Earnings Soar as China’s EV Market Ramps Up” with publication date: March 16, 2016.

KNDI Company Profile

Kandi Technologies Group, Inc. (Kandi), incorporated on March 31, 2004, is focused on the development of pure electric vehicle (EV) products and manufacturing electric vehicle’s parts. The Company’s business are the design, development, manufacturing and commercialization of electric vehicles, electric vehicle parts and off-road vehicles, which are distributed in China and global markets. The Company’s products include EV parts, EV products and off-road vehicles, including all-terrain vehicles (ATVs), utility vehicles (UTVs), go-karts and others. The Firm conducts its business through its subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (Kandi Vehicles), and the partial subsidiaries of Kandi Vehicles. The Firm focuses on fuel efficient, pure EV parts manufacturing. The Company’s subsidiary, Jinhua Kandi New Energy Vehicles Co., Ltd. (Kandi New Energy), holds battery packing production rights (license), and supplies the battery pack to the joint venture (JV) Company. It also holds the special-purpose vehicle production rights (license) on manufacturing Kandi brand electric utility vehicles.

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