The stock of Kandi Technologies Group Inc (NASDAQ:KNDI) hit a new 52-week low and has $4.83 target or 13.00% below today’s $5.55 share price. The 9 months bearish chart indicates high risk for the $262.79M company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $4.83 price target is reached, the company will be worth $34.16M 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 72,998 shares traded hands. Kandi Technologies Group Inc (NASDAQ:KNDI) has declined 39.76% since March 14, 2016 and is downtrending. It has underperformed by 45.37% the S&P500.
Analysts await Kandi Technologies Group Inc (NASDAQ:KNDI) to report earnings on November, 14.
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.
The Georgia-based Invesco Limited has invested 0% in Kandi Technologies Group Inc (NASDAQ:KNDI). Benjamin F Edwards & Com Inc holds 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI) for 400 shares. Morgan Stanley has 87,360 shares for 0% of their US portfolio. Walleye Trading Ltd Com last reported 0% of its portfolio in the stock. Deutsche Savings Bank Ag accumulated 129 shares or 0% of the stock. Fincl Architects, a New Jersey-based fund reported 1,000 shares. Shelton Capital Mgmt has 85,000 shares for 0.05% of their US portfolio. Guggenheim Ltd Liability Corporation accumulated 16,726 shares or 0% of the stock. Tower Limited Company (Trc) has 953 shares for 0% of their US portfolio. Pnc Services Gp last reported 0% of its portfolio in the stock. Tradewinds Management Ltd Co owns 400 shares or 0% of their US portfolio. Us Savings Bank De has 0% invested in the company for 53 shares. Wealthtrust last reported 0% of its portfolio in the stock. Geode Capital Mgmt Ltd holds 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI) for 17,770 shares. Barclays Public Ltd Liability last reported 0% of its portfolio in the stock.
Insider Transactions: Since September 9, 2016, the stock had 1 buy, and 0 sales for $2,056 net activity. Wang Cheng(Henry) bought $2,056 worth of Kandi Technologies Group Inc (NASDAQ:KNDI) on Friday, September 9.
More notable recent Kandi Technologies Group Inc (NASDAQ:KNDI) news were published by: Fool.com which released: “Kandi Technologies Group, Inc. Earnings Plummet 99% on Tax Exemption Issues” on May 17, 2016, also Fool.com with their article: “Kandi Technologies Group, Inc. Earnings Soar as China’s EV Market Ramps Up” published on March 16, 2016, Fool.com published: “Kandi Technologies Group, Inc. Stock Moves Higher” on February 16, 2016. More interesting news about Kandi Technologies Group Inc (NASDAQ:KNDI) were released by: Fool.com and their article: “Why Kandi Technologies Group Inc. Popped Monday” published on October 19, 2015 as well as Fool.com‘s news article titled: “Kandi Technologies Group, Inc. Stock Plummets Following Q3 Results” with publication date: November 09, 2015.
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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