Kandi Technologies Group, Inc., based in Jinhua, China. (KNDI) is one of the lesser known clean tech strains. This electric vehicle supply chain company designs, manufactures, and commercializes electric vehicles (EVs), EV components, and off-road vehicles. KNDI operates four business lines: pure electric vehicles, electric vehicle components, intelligent battery replacement systems, and the development and sale of all-terrain vehicles.
KNDI is recognized as a national high-tech company in China and is a member of the top 500 machinery companies in China. Inventories are expected to skyrocket in the coming years due to growing awareness of climate change and the gradual recovery of the Chinese economy. Inventories have increased by 204.7% year-to-date. This impressive performance and potential gains based on several factors have helped stocks gain a buy rating with our unique rating system.
Here’s how our unique POWR rating system evaluates KNDI:
Trade Grade: B
KNDI is currently trading above the 50-day and 200-day moving averages of $ 7.59 and $ 5.78, respectively, showing an upward trend. In addition, KNDI has risen 350.3% in the last six months, reflecting a strong short-term bullishness.
KNDI’s off-road vehicle sales were $ 8.9 million in the third quarter, which ended in September 2020, up 51.6% year-on-year. Gross profit margin increased 42 basis points from 16.7% last year to 20.9%. In September, the company established China Battery Exchange Technology Company, a wholly owned subsidiary of battery exchange services.
KNDI has launched an IPO process to list its wholly owned subsidiary, Zhejiang Kandy Smart Battery Swap Technology Co., Ltd., on the Shanghai Stock Exchange’s Science and Technology Innovation Commission (STAR) market. The company has signed a strategic cooperation agreement with Zhejiang Grid Electric Vehicle Service Company in the field of pure electric vehicle battery replacement.
On November 12, KNDI raised $ 60 million through a 9.4 million common stock purchase agreement with institutional investors. Kandi America, a US subsidiary, has been licensed by the US Environmental Protection Agency (EPA) for two electric vehicle models, the K23 and K27. In August, KNDI delivered a fully automatic intelligent battery replacement system to a rideshare operator in Haikou City, Hainan Province.
Buy and Hold Grade: C
KNDI isn’t in the right position in that it’s close to the 52-week high, which is an important factor in buy-and-hold grade. The stock is currently trading 17.2% below the 52-week high of $ 17.40, which hit on July 30.
The company’s net sales have grown at a CAGR of 11.3% over the last three years. Demand for electric vehicles (EVs) is gradually increasing, but has recently increased due to improvements in battery replacement technology.
Peer grade: B
KNDI is currently ranked 60th out of 115 stocks in the China Group. Other popular stocks in the Chinese group are NIO Inc. (NIO), New Oriental Education & Technology Group, Inc. (EDU), and Baidu, Inc. (BIDU).
NIO outperformed KNDI, up 1105.2% year-to-date, while EDU and BIDU increased 49% and 8%, respectively, during this period.
Industry rank: B
The China Group is ranked 23rd in the 123 StockNews.com industry. Companies in this industry are exclusively in China and most of the time do business in their home countries.
As the Chinese economy gradually recovers, stocks in the industry are expected to increase due to the continued opening of the economy. In addition, China continues to be the only major economy in the world with positive growth in 2020.
Overall POWR rating: B (purchase)
KNDI is valued as a purchase due to its short-term and long-term bullishness, solid growth prospects, and underlying industry strength, as determined by four factors in the overall evaluation of POWR.
KNDI could surge in the coming months, despite a 204.7% increase so far this year, based on its continued business growth, good earnings and earnings outlook, and strong finances There is sex.
Analysts expect KNDI’s revenue to increase by 76.7% in 2021. Operating in the world’s largest EV market, this outlook should keep KNDI’s price momentum in the short term.
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KNDI shares traded at $ 12.06 per share on Friday afternoon, down $ 2.35 (-16.31%). Since the beginning of the year, KNDI has risen 154.97%, while the Benchmark S & P 500 Index has risen 12.57% over the same period.
About the author: Manny Shacha Tezy
Manisha has had a keen interest in the stock market since he was young. She majored in economics at university and is passionate about writing, which has led to her career as a research analyst. More…
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