Kandi Technologies Group, Inc. (NASDAQ:KNDI) Short Interest Down 31.7% in July

Kandi Technologies Group, Inc. (NASDAQ:KNDI) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 1,480,042 shares, a decline of 31.7% from the June 30th total of 2,166,061 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 132,014 shares, the short-interest ratio is currently 11.2 days.

Kandi Technologies Group Trading Down 1.2%

Shares of NASDAQ KNDI opened at $0.65 on Friday. Kandi Technologies Group has a twelve month low of $0.57 and a twelve month high of $1.77. The company has a market capitalization of $65.69 million, a price-to-earnings ratio of -2.18 and a beta of 0.60. The business has a 50 day simple moving average of $0.71 and a 200-day simple moving average of $0.83.

Kandi Technologies Group (NASDAQ:KNDI) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.60). The company had revenue of $25.57 million during the quarter, compared to analyst estimates of $64.30 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Kandi Technologies Group currently has a consensus rating of “Sell”.

Institutional Trading of Kandi Technologies Group

Several institutional investors have recently added to or reduced their stakes in KNDI. Quinn Opportunity Partners LLC acquired a new stake in shares of Kandi Technologies Group during the third quarter worth $80,000. Citadel Advisors LLC boosted its holdings in shares of Kandi Technologies Group by 72.0% in the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after buying an additional 53,496 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Kandi Technologies Group in the 3rd quarter valued at about $37,000. Finally, Renaissance Technologies LLC grew its position in shares of Kandi Technologies Group by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after buying an additional 12,740 shares during the last quarter. Institutional investors own 3.66% of the company’s stock.

About Kandi Technologies Group

Kandi Technologies Group, Inc is a China-based manufacturer focused on the design, development and production of electric vehicles (EVs), batteries and charging infrastructure. The company offers a range of small, neighborhood electric vehicles (NEVs) under its own brand and supplies key components—including battery packs and electric drive systems—to automotive partners. In addition to vehicle manufacturing, Kandi is engaged in the development and operation of charging stations and battery-swap facilities intended to support EV adoption in urban environments.

Founded in 2002 and headquartered in Jinhua, Zhejiang Province, Kandi began its operations producing all-terrain vehicles (ATVs) and recreational off-road products.