Invesco Capital Management LLC recently announced the acquisition of new stake in Kandi Technologies Group Inc. (NASDAQ:KNDI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1,264.84% to 0.61 million shares with purchase of 0.56 million shares. This fresh investment now brings its stake to 1.15% valued currently at $4.39 million. In addition, SSgA Funds Management, Inc. raised its holdings by 79542.0 to 0.18 million shares.
With over 1.88 million Kandi Technologies Group Inc. (KNDI) shares trading Monday and a closing price of $6.73 on the day, the dollar volume was approximately $12.68 million. The shares have shown a positive weekly performance of 0.30% and its price on 08/31/20 gained nearly 1.05%. Currently, there are 53.37M common shares owned by the public and among those 39.43M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for KNDI have a consensus price objective of $2.38. The analysts have set the share’s price value over the next 12 months at a high of $2.38 and a low of $2.38 should the stock experience a downside. The average price target is -46.62% below its last price level and a downside to the estimated low will see the stock lose -182.77% over that period. But an upside of -182.77% will see the stock hit the forecast high price target while mean target price for the stock is $2.38.
Insiders at the company have transacted a total of 5 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 17,000 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 5,000 shares.
The top 3 mutual fund holders in Kandi Technologies Group Inc. are Invesco WilderHill Clean Energy E, SPDR S&P Kensho New Economies Com, and Invesco Golden Dragon China ETF. Invesco WilderHill Clean Energy E owns 0.61 million shares of the company’s stock, all valued at over $4.37 million. The company bought an additional 3116.0 shares recently to bring their total holdings to about 1.15% of the shares outstanding. Invesco Golden Dragon China ETF now owns shares totaling to 0.08% of the shares outstanding.
Shares of Kandi Technologies Group Inc. (NASDAQ: KNDI) opened at $6.54, down -$0.12 from a prior closing price of $6.66. However, the script later closed the day at $6.73, up 1.05%. The company’s stock has a 5-day price change of 0.30% and 109.66% over the past three months. KNDI shares are trading 42.28% year to date (YTD), with the 12-month market performance up to 31.70% higher. It has a 12-month low price of $2.17 and touched a high of $17.40 over the same period. Currently, 1.88 million shares have been traded, compared to an average intraday trading volume of 6.23 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -17.92%, 12.79%, and 54.42% respectively.
Institutional ownership of Kandi Technologies Group Inc. (NASDAQ: KNDI) shares accounts for 3.00% of the company’s 53.37M shares outstanding. Mutual fund holders own 1.68%, while other institutional holders and individual stakeholders account for 29.00% and 1.38% respectively.
It has a market capitalization of $373.52M and a beta (3y monthly) value of 2.63. The stock’s trailing 12-month PE ratio is 51.37, while the earnings-per-share (ttm) stands at $0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.32% over the week and 12.26% over the month.
Analysts forecast that Kandi Technologies Group Inc. (KNDI) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2009. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”