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Kandi Technologies Group, Inc. (NASDAQ:KNDI) Short Interest Down 15.2% in April

Financial News Live ·  May 1, 2023 20:52

Kandi Technologies Group, Inc. (NASDAQ:KNDI – Get Rating) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 1,390,000 shares, a decrease of 15.2% from the March 31st total of 1,640,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 162,800 shares, the short-interest ratio is presently 8.5 days.

Hedge Funds Weigh In On Kandi Technologies Group

Several institutional investors have recently modified their holdings of the company. Caxton Associates LP grew its position in Kandi Technologies Group by 9.6% in the 3rd quarter. Caxton Associates LP now owns 264,065 shares of the company's stock valued at $557,000 after buying an additional 23,113 shares in the last quarter. IFP Advisors Inc grew its position in Kandi Technologies Group by 6,097.6% in the 3rd quarter. IFP Advisors Inc now owns 12,705 shares of the company's stock valued at $69,000 after buying an additional 12,500 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Kandi Technologies Group by 2.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 196,753 shares of the company's stock valued at $415,000 after buying an additional 4,160 shares in the last quarter. Renaissance Technologies LLC grew its position in Kandi Technologies Group by 14.1% in the 3rd quarter. Renaissance Technologies LLC now owns 44,600 shares of the company's stock valued at $94,000 after buying an additional 5,500 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in Kandi Technologies Group by 26.1% in the 4th quarter. GSA Capital Partners LLP now owns 37,052 shares of the company's stock valued at $85,000 after buying an additional 7,665 shares in the last quarter. Institutional investors own 6.98% of the company's stock.

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Kandi Technologies Group Stock Performance

Kandi Technologies Group stock opened at $3.18 on Monday. The company has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $2.62. The firm has a market capitalization of $235.92 million, a P/E ratio of -18.71 and a beta of 1.83. Kandi Technologies Group has a one year low of $2.00 and a one year high of $3.30.

Kandi Technologies Group (NASDAQ:KNDI – Get Rating) last released its quarterly earnings results on Wednesday, March 15th. The company reported ($0.14) EPS for the quarter. The firm had revenue of $38.41 million for the quarter. Kandi Technologies Group had a negative return on equity of 2.93% and a negative net margin of 10.29%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Kandi Technologies Group in a research report on Thursday. They set a "hold" rating for the company.

Kandi Technologies Group Company Profile

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Kandi Technologies Group, Inc operates as a holding company, which engages in the development, production, and distribution of electric vehicle products and parts. It offers off-road vehicles including ATVs, utility vehicles, go-karts, and electric scooters. The company was founded on March 31, 2004 and is headquartered in Jinhua, China.

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