The stock of Kandi Technologies Group Inc (NASDAQ:KNDI) hit a new 52-week low and has $4.53 target or 10.00% below today’s $5.03 share price. The 5 months bearish chart indicates high risk for the $239.64 million company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $4.53 price target is reached, the company will be worth $23.96 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 80,522 shares traded hands. Kandi Technologies Group Inc (NASDAQ:KNDI) has declined 31.11% since March 29, 2016 and is downtrending. It has underperformed by 34.58% 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 Q2 2016. 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.
Da Davidson accumulated 500 shares or 0% of the stock. Parallax Volatility Advisers L P holds 3 shares or 0% of its portfolio. Spot Trading Limited Com has invested 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI). Sphinx Trading L P owns 2,500 shares or 0.04% of their US portfolio. Bank & Trust Of America De has 3,180 shares for 0% of their US portfolio. Guggenheim Limited Liability last reported 16,726 shares in the company. Wells Fargo & Mn accumulated 0% or 100 shares. Invesco Ltd holds 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI) for 182,457 shares. Architects last reported 1,000 shares in the company. Pnc Fincl Svcs Gru Inc holds 0% or 600 shares in its portfolio. Morgan Stanley has invested 0% of its portfolio in Kandi Technologies Group Inc (NASDAQ:KNDI). Benjamin F Edwards holds 400 shares or 0% of its portfolio. Walleye Trading Lc holds 0% or 970 shares in its portfolio. Barclays Public Limited Co holds 14,040 shares or 0% of its portfolio. Wealthtrust accumulated 575 shares or 0% of the stock.
Insider Transactions: Since September 9, 2016, the stock had 1 insider purchase, and 0 insider sales for $2,056 net activity. 360 shares were bought by Wang Cheng(Henry), worth $2,056 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. Warns 2016 Sales Could Fall Short” published on August 18, 2016, Fool.com published: “Kandi Technologies Group, Inc. Earnings Soar as China’s EV Market Ramps Up” on March 16, 2016. More interesting news about Kandi Technologies Group Inc (NASDAQ:KNDI) were released by: Fool.com and their article: “Kandi Technologies Group, Inc. Stock Moves Higher” published on February 16, 2016 as well as Fool.com‘s news article titled: “Why Kandi Technologies Group Inc. Popped Monday” with publication date: October 19, 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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