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Friday, January 22, 2021

Kandi Technologies Group Inc. (NASDAQ:KNDI) Finding Zero Support

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Kandi Technologies Group Inc. (KNDI) shares are trading at lower $8.06, while the current analyst price target stands at $12.00.

To add more color to this target, the company’s high over the last year is $17.45 and the low is $2.17. Over the last 52 weeks, KNDI is up 62.83% while the S&P 500 is up 17.73%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, KNDI reported a profit of $3.91 million. Kandi Technologies Group Inc. also saw revenues increase to $18.72 million. In addition, KNDI has free cash flow of -$15.35 million as of 09-2020. The company’s EBITDA came in at -$0.32 million which compares well with its peers.

KNDI booked profit margins of -6.10%, its Return on Equity (ROE) is -3.00%, and its Return on Assets is -1.90%. All told, it is clear that, KNDI needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. KNDI has a short ratio of 0.79 and outstanding shares of 54.11M.

Company Outlook

KNDI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 27.98 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.13. Kandi Technologies Group Inc. KNDI also noted assets of $348.58 million at the end of the last quarter. Investors should also keep an eye on sector updates as KNDI has historically followed its peers on positive news.

All told, Kandi Technologies Group Inc. KNDI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, KNDI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Kandi Technologies Group Inc. KNDI is now commanding a market cap of 701.70M and a float of 43.67M. KNDI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of KNDI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in KNDI, either long or short, and we have not been compensated for this article.

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