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

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Kandi Technologies Group Trading Down 1.2%

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 firm has a market cap of $65.69 million, a price-to-earnings ratio of -2.18 and a beta of 0.60. The company has a fifty day simple moving average of $0.71 and a 200 day simple moving average of $0.83.

Kandi Technologies Group (NASDAQ:KNDI) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.60). The business had revenue of $25.57 million for the quarter, compared to analysts’ expectations of $64.30 million.

Institutional Investors Weigh In On Kandi Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quinn Opportunity Partners LLC acquired a new position in shares of Kandi Technologies Group in the 3rd quarter valued at approximately $80,000. Squarepoint Ops LLC purchased a new position in shares of Kandi Technologies Group during the 3rd quarter valued at approximately $37,000. Citadel Advisors LLC grew its position in shares of Kandi Technologies Group by 72.0% during the third quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock worth $155,000 after buying an additional 53,496 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Kandi Technologies Group by 9.6% during the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock worth $115,000 after buying an additional 12,740 shares in the last quarter. 3.66% of the stock is currently owned by hedge funds and other institutional investors.

Kandi Technologies Group Company Profile

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.