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

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KNDI. Squarepoint Ops LLC bought a new stake in Kandi Technologies Group during the third quarter worth approximately $37,000. Quinn Opportunity Partners LLC bought a new position in Kandi Technologies Group during the 3rd quarter valued at $80,000. Renaissance Technologies LLC increased 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 during the period. Finally, Citadel Advisors LLC increased its position in shares of Kandi Technologies Group by 72.0% during the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after purchasing an additional 53,496 shares during the period. Institutional investors and hedge funds own 3.66% of the company’s stock.

Kandi Technologies Group Trading Up 2.7%

KNDI stock opened at $0.67 on Friday. Kandi Technologies Group has a 52 week low of $0.57 and a 52 week high of $1.77. The company has a market capitalization of $67.48 million, a price-to-earnings ratio of -2.24 and a beta of 0.60. The firm’s 50-day moving average is $0.71 and its two-hundred day moving average is $0.83.

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.