Kandi Technologies Group Inc. (KNDI) Stock Price Up 9.8% on Insider Buying Activity
Kandi Technologies Group Inc. (NASDAQ:KNDI) shares rose 9.8% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $5.10 and last traded at $5.05, with a volume of 649,617 shares trading hands. The stock had previously closed at $4.60.
Specifically, insider Xiaoming Hu acquired 126,720 shares of the business’s stock in a transaction on Friday, November 25th. The shares were bought at an average price of $4.23 per share, with a total value of $536,025.60. Following the completion of the acquisition, the insider now owns 1,138,077 shares in the company, valued at $4,814,065.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Yu acquired 11,668 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were bought at an average cost of $3.93 per share, for a total transaction of $45,855.24. Following the acquisition, the director now owns 56,668 shares of the company’s stock, valued at approximately $222,705.24. The disclosure for this purchase can be found here. Company insiders own 27.79% of the company’s stock.
Separately, TheStreet cut shares of Kandi Technologies Group from a “hold” rating to a “sell” rating in a report on Monday, November 14th.
The firm has a 50 day moving average price of $4.72 and a 200-day moving average price of $6.13. The company has a market cap of $240.88 million, a P/E ratio of 84.17 and a beta of 2.51.
Kandi Technologies Group (NASDAQ:KNDI) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.01) earnings per share for the quarter. The company earned $6.40 million during the quarter, compared to analysts’ expectations of $50.50 million. Kandi Technologies Group had a return on equity of 4.38% and a net margin of 1.82%.
About Kandi Technologies Group
Kandi Technologies Group, Inc (Kandi) is focused on the development of pure electric vehicle (EV) products and manufacturing electric vehicle’s parts. The Company’s business operations 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.
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