Kandi Technologies Group Inc. (NASDAQ:KNDI) shares rose 9.8% on Monday following insider buying activity. The stock traded as high as $5.10 and last traded at $5.05, with a volume of 649,617 shares changing hands. The stock had previously closed at $4.60.
Specifically, insider Xiaoming Hu bought 126,720 shares of Kandi Technologies Group stock in a transaction that occurred on Friday, November 25th. The shares were bought at an average price of $4.23 per share, with a total value of $536,025.60. Following the acquisition, the insider now owns 1,138,077 shares in the company, valued at $4,814,065.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Yu bought 11,668 shares of Kandi Technologies Group stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average cost of $3.93 per share, for a total transaction of $45,855.24. Following the acquisition, the director now owns 56,668 shares in the company, valued at approximately $222,705.24. The disclosure for this purchase can be found here. Corporate insiders own 27.79% of the company’s stock.
Separately, TheStreet lowered shares of Kandi Technologies Group from a “hold” rating to a “sell” rating in a report on Monday, November 14th.
The firm has a market cap of $240.88 million, a P/E ratio of 84.17 and a beta of 2.51. The company’s 50-day moving average is $4.74 and its 200-day moving average is $6.15.
Kandi Technologies Group (NASDAQ:KNDI) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.01) earnings per share for the quarter. Kandi Technologies Group had a net margin of 1.82% and a return on equity of 4.38%. The firm had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $50.50 million.