BidaskClub downgraded shares of Kandi Technologies Group (NASDAQ:KNDI) from a hold rating to a sell rating in a research note released on Wednesday morning.

Kandi Technologies Group (NASDAQ:KNDI) traded down $0.10 during trading hours on Wednesday, reaching $7.20. The company’s stock had a trading volume of 392,761 shares, compared to its average volume of 295,801. Kandi Technologies Group has a 52-week low of $3.50 and a 52-week high of $9.90. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.14. The firm has a market cap of $350.67, a P/E ratio of -8.00 and a beta of 2.82.

A number of large investors have recently added to or reduced their stakes in KNDI. Private Advisor Group LLC acquired a new position in Kandi Technologies Group during the 2nd quarter worth approximately $100,000. State Street Corp boosted its position in Kandi Technologies Group by 17.3% during the 2nd quarter. State Street Corp now owns 39,990 shares of the company’s stock worth $178,000 after acquiring an additional 5,886 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Kandi Technologies Group during the 2nd quarter worth approximately $609,000. 3.81% of the stock is owned by hedge funds and other institutional investors.

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About Kandi Technologies Group

Kandi Technologies Group, Inc (Kandi) is focused on the development of pure electric vehicle (EV) products and manufacturing electric vehicle’s parts. The Company’s business operations are the design, development, manufacturing and commercialization of electric vehicles, electric vehicle parts and off-road vehicles, which are distributed in China and global markets.

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