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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Kandi Technologies Group, Inc.    KNDI

KANDI TECHNOLOGIES GROUP, INC.

(KNDI)
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Kandi Technologies : Shares of Chinese EV maker Kandi down after short-seller report

11/30/2020 | 12:15pm EST

(Reuters) - Shares of Kandi Technologies Group Inc fell more than 19% on Monday, after the short-selling research house Hindenburg alleged that the Chinese electric vehicle maker used fake sales to take money from U.S. investors.

Kandi did not immediately comment on Hindenburg's report. (https://bit.ly/3luc2zC)

In the report, Hindenburg accused the company of falsifying "revenue using fake sales to undisclosed affiliates."

"The company's largest customer, representing ~55% of last twelve months (LTM) sales, shares a phone number with a Kandi subsidiary, and shared an executive with Kandi," the report said.

In September, the short-seller had published a scathing report on Nikola Corp alleging that the electric truckmaker misled investors over its technology, a charge that the company denied.

Kandi's shares, like many of its peers in the EV industry, have rallied in recent quarters. The stock has nearly tripled in value this year.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
KANDI TECHNOLOGIES GROUP, INC. 3.41% 8.18 Delayed Quote.14.64%
NIKOLA CORPORATION 2.79% 20.29 Delayed Quote.32.96%
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More news
Financials (USD)
Sales 2020 77,6 M - -
Net income 2020 - - -
Net Debt 2020 - - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 592 M 592 M -
Capi. / Sales 2020 7,63x
Capi. / Sales 2021 4,32x
Nbr of Employees 594
Free-Float 80,4%
Chart KANDI TECHNOLOGIES GROUP, INC.
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Kandi Technologies Group, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends KANDI TECHNOLOGIES GROUP, INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts 1
Average target price 12,00 $
Last Close Price 8,18 $
Spread / Highest target 46,7%
Spread / Average Target 46,7%
Spread / Lowest Target 46,7%
Managers and Directors
NameTitle
Xiao Ming Hu Chairman, President & Chief Executive Officer
Jehn Ming Lim Chief Financial Officer
Jerry B. Lewin Independent Director
Henry Yu Independent Director
Li Ming Chen Independent Director
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