The stock of Kandi Technologies Group Inc (NASDAQ:KNDI) is a huge mover today! About 242,964 shares traded hands. Kandi Technologies Group Inc (NASDAQ:KNDI) has declined 55.81% since April 13, 2016 and is downtrending. It has underperformed by 59.74% the S&P500.
The move comes after 5 months positive chart setup for the $156.25M company. It was reported on Nov, 15 by Barchart.com. We have $10.59 PT which if reached, will make NASDAQ:KNDI worth $296.88M more.
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 fall, 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.
Deutsche Fincl Bank Ag last reported 129 shares in the company. Barclays Public Limited Com holds 0% or 14,040 shares in its portfolio. Susquehanna Ltd Liability Partnership holds 637,593 shares or 0% of its portfolio. State Street holds 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI) for 10,965 shares. Tower Rech Cap Limited Liability Corporation (Trc) last reported 953 shares in the company. Citigroup accumulated 2,161 shares or 0% of the stock. Geode Ltd Llc holds 0% or 17,770 shares in its portfolio. California Employees Retirement Systems last reported 84,200 shares in the company. Sphinx Trading Limited Partnership, a Illinois-based fund reported 2,500 shares. Moreover, Mizuho Securities Usa Incorporated has 0.12% invested in Kandi Technologies Group Inc (NASDAQ:KNDI) for 105,400 shares. Wfg Advsrs Limited Partnership owns 34,200 shares or 0.07% of their US portfolio. Pnc Gru has invested 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI). Walleye Trading Ltd Limited Liability Company last reported 970 shares in the company. The North Carolina-based Savings Bank Of America Corporation De has invested 0% in Kandi Technologies Group Inc (NASDAQ:KNDI). Next Fin Grp Inc holds 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI) for 300 shares.
Insider Transactions: Since September 9, 2016, the stock had 1 insider buy, and 0 sales for $2,056 net activity. Wang Cheng(Henry) had bought 360 shares worth $2,056.
More notable recent Kandi Technologies Group Inc (NASDAQ:KNDI) news were published by: Nasdaq.com which released: “Earnings Reaction History: Kandi Technologies Group, Inc., 40.0% Follow …” on November 09, 2016, also Fool.com with their article: “Kandi Technologies Group, Inc. Earnings Plummet 99% on Tax Exemption Issues” published on May 17, 2016, Fool.com published: “Kandi Technologies Group, Inc. Warns 2016 Sales Could Fall Short” on August 18, 2016. More interesting news about Kandi Technologies Group Inc (NASDAQ:KNDI) were released by: Fool.com and their article: “Kandi Technologies Group, Inc. Earnings Soar as China’s EV Market Ramps Up” published on March 16, 2016 as well as Fool.com‘s news article titled: “Kandi Technologies Group, Inc. Stock Moves Higher” with publication date: February 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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