Kandi Technologies Group Inc. [NASDAQ: KNDI] price plunged by -16.31 percent to reach at -$2.35. The company report on November 20, 2020 that Kandi Technologies Announces Entry into Agreement for Registered Direct Placement of $100 Million of Common Stock and Warrants.
Kandi Technologies Group, Inc. (the “Company” or “Kandi”) (NASDAQ GS: KNDI), announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct placement of $100 million of 8,849,560 units (the “Units”) of its securities at a purchase price per Unit of $11.30, generating aggregate gross proceeds to the Company of approximately $100 million, before deducting fees to the placement agent and other estimated offering expenses payable by the Company. Each Unit consisted of one share of our common stock and 0.4 warrants to purchase a share of our common stock. The warrants have an exercise price of $14.50 per share, a term of 30 months, and are exercisable upon issuance.
The net proceeds from this offering are expected to be used for general working capital purposes including research and development of EV sports car models and expenditures necessary to assure that our EV models comply with all necessary requirements for the entry into the U.S. market. The completion of the placement is expected to occur no later than November 24, 2020, subject to the satisfaction of customary closing conditions.
A sum of 53853068 shares traded at recent session while its average daily volume was at 6.22M shares. Kandi Technologies Group Inc. shares reached a high of $13.50 and dropped to a low of $11.35 until finishing in the latest session at $12.06.
The one-year KNDI stock forecast points to a potential downside of -0.5.
Guru’s Opinion on Kandi Technologies Group Inc. [KNDI]:
The Average True Range (ATR) for Kandi Technologies Group Inc. is set at 1.39, with the Price to Sales ratio for KNDI stock in the period of the last 12 months amounting to 9.88. The Price to Book ratio for the last quarter was 2.90, with the Price to Cash per share for the same quarter was set at 0.27.
KNDI Stock Performance Analysis:
Kandi Technologies Group Inc. [KNDI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 67.04. With this latest performance, KNDI shares gained by 65.66% in over the last four-week period, additionally plugging by 290.29% over the last 6 months – not to mention a rise of 158.24% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KNDI stock in for the last two-week period is set at 64.54, with the RSI for the last a single of trading hit 65.16, and the three-weeks RSI is set at 62.86 for Kandi Technologies Group Inc. [KNDI]. The present Moving Average for the last 50 days of trading for this stock 7.31, while it was recorded at 11.05 for the last single week of trading, and 5.10 for the last 200 days.
Insight into Kandi Technologies Group Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Kandi Technologies Group Inc. [KNDI] shares currently have an operating margin of +0.67 and a Gross Margin at +18.73. Kandi Technologies Group Inc.’s Net Margin is presently recorded at -5.30.
Return on Total Capital for KNDI is now 0.31, given the latest momentum, and Return on Invested Capital for the company is -2.95. Return on Equity for this stock declined to -3.24, with Return on Assets sitting at -1.80. When it comes to the capital structure of this company, Kandi Technologies Group Inc. [KNDI] has a Total Debt to Total Equity ratio set at 29.79. Additionally, KNDI Total Debt to Total Capital is recorded at 22.95, with Total Debt to Total Assets ending up at 17.48. Long-Term Debt to Equity for the company is recorded at 6.59, with the Long-Term Debt to Total Capital now at 5.08.
Reflecting on the efficiency of the workforce at the company, Kandi Technologies Group Inc. [KNDI] managed to generate an average of -$12,102 per employee. Receivables Turnover for the company is 1.12 with a Total Asset Turnover recorded at a value of 0.34.Kandi Technologies Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.80.
Kandi Technologies Group Inc. [KNDI] Insider Position Details
There are presently around $52 million, or 5.90% of KNDI stock, in the hands of institutional investors. The top three institutional holders of KNDI stocks are: INVESCO LTD. with ownership of 3,102,205, which is approximately 409.948% of the company’s market cap and around 2.00% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 306,763 shares of the stock with an approximate value of $3.7 million in KNDI stocks shares; and MORGAN STANLEY, currently with $2.52 million in KNDI stock with ownership of nearly 782.636% of the company’s market capitalization.
Positions in Kandi Technologies Group Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 30 institutional holders increased their position in Kandi Technologies Group Inc. [NASDAQ:KNDI] by around 3,180,219 shares. Additionally, 20 investors decreased positions by around 497,796 shares, while 9 investors held positions by with 632,556 shares. The mentioned changes placed institutional holdings at 4,310,571 shares, according to the latest SEC report filing. KNDI stock had 21 new institutional investments in for a total of 319,995 shares, while 13 institutional investors sold positions of 459,473 shares during the same period.