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

Kandi Technologies Group, Inc. (NASDAQ:KNDI) saw a significant decrease in short interest in 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 volume of 132,014 shares, the days-to-cover ratio is presently 11.2 days. Currently, 1.8% of the shares of the company are sold short.

Institutional Trading of Kandi Technologies Group

Institutional investors have recently modified their holdings of the company. Quinn Opportunity Partners LLC acquired a new position in Kandi Technologies Group during the third quarter worth about $80,000. Citadel Advisors LLC lifted its holdings in Kandi Technologies Group by 72.0% in the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after acquiring an additional 53,496 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Kandi Technologies Group in the 3rd quarter valued at about $37,000. Finally, Renaissance Technologies LLC boosted its position in shares of Kandi Technologies Group by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after purchasing an additional 12,740 shares in the last quarter. Institutional investors and hedge funds own 3.66% of the company’s stock.

Kandi Technologies Group Price Performance

Kandi Technologies Group stock opened at $0.67 on Friday. Kandi Technologies Group has a 12-month low of $0.57 and a 12-month high of $1.77. The stock has a market capitalization of $67.48 million, a PE ratio of -2.24 and a beta of 0.60. The firm has a 50 day simple moving average of $0.71 and a 200-day simple moving average of $0.83.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

About Kandi Technologies Group

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.