Kandi (KNDI, $8.60) set to launch in the U.S. car market, shares soar 40%
Chinese electric car maker, Kandi Technologies Group, saw shares soar as high as +40% on Wednesday following an approval from the National Highway Traffic Safety Administration of U.S. to import two of its cars.
In fact, in the past year the automaker has witnessed a rise of more than 120%, hitting its highest on Wednesday of $8.53 a share.
The two models ready for shipping are Model EX3 and Model K22 cars. With this, the company is excited to bring its offerings to the American vehicle market. It expects that the balanced price and quality of these two models will become popular with American drivers.
However, Kandi is not an ‘all electric’ automaker like Tesla (TSLA) and Nio (NIO). It is a joint venture with Geely Group, which is one of China's largest automakers.
KNDI's RSI Indicator climbs out of oversold territory
The RSI Indicator for KNDI moved out of oversold territory on October 25, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 42 similar instances when the indicator left oversold territory. In of the 42 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 12 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where KNDI advanced for three days, in of 241 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 14, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on KNDI as a result. In of 89 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for KNDI turned negative on October 09, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 55 similar instances when the indicator turned negative. In of the 55 cases the stock turned lower in the days that followed. This puts the odds of success at .
KNDI moved below its 50-day moving average on October 07, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for KNDI crossed bearishly below the 50-day moving average on October 16, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where KNDI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
KNDI broke above its upper Bollinger Band on September 30, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for KNDI entered a downward trend on September 27, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.458) is normal, around the industry mean (11.943). P/E Ratio (107.000) is within average values for comparable stocks, (44.409). KNDI's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (0.959). KNDI has a moderately low Dividend Yield (0.002) as compared to the industry average of (0.030). P/S Ratio (1.370) is also within normal values, averaging (26.858).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. KNDI’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. KNDI’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock worse than average.
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General Information
a manufacturer of electric vehicles and parts
Industry AutoPartsOEM