Kandi Technologies Group, Inc. (NASDAQ:KNDI) Sees Large Drop in Short Interest

Kandi Technologies Group, Inc. (NASDAQ:KNDI) was the recipient of a large drop in short interest in the month of October. As of October 30th, there was short interest totaling 127,620 shares, a drop of 89.4% from the October 15th total of 1,198,836 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 27,383 shares, the short-interest ratio is currently 4.7 days.

Kandi Technologies Group Stock Up 3.9%

Shares of NASDAQ:KNDI traded up $0.13 during midday trading on Friday, hitting $3.43. The stock had a trading volume of 11,519 shares, compared to its average volume of 87,764. The company has a market cap of $35.33 million, a P/E ratio of -1.14 and a beta of 0.64. Kandi Technologies Group has a 12 month low of $3.22 and a 12 month high of $12.00. The business’s 50-day simple moving average is $5.13 and its 200-day simple moving average is $7.20.

Kandi Technologies Group (NASDAQ:KNDI) last announced its quarterly earnings results on Monday, September 28th. The company reported $0.50 EPS for the quarter. The firm had revenue of $28.56 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Kandi Technologies Group in a report on Friday, October 30th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Kandi Technologies Group

Kandi Technologies Group, Inc. is a China-based manufacturer and distributor of electric vehicles and powersports products. Through its subsidiaries, the company develops and sells electric vehicles, electric utility vehicles, all-terrain vehicles, side-by-side vehicles, go-karts and related products. Its offerings are designed for personal transportation, recreational use, property maintenance and other utility applications. The company also produces and markets components and accessories used in electric and powersports vehicles, including batteries and other related systems.