Stock Update: Kandi Technologies Group Inc (NASDAQ:KNDI)

[GLOBE NEWSWIRE] Kandi Technologies Group Inc (NASDAQ:KNDI), announced that it closed a registered direct placement with certain institutional investors and raised $71 million from selling its common stock at a price of $17.20 per share on September 4, 2014. The Company issued a total of 4,127,908 shares to the institutional investorsStock PerformanceTaking a look at the company’s recent performance, Kandi Technologies reported second quarter earnings for fiscal 2014 on August 11^th. The company reported actual earnings per share of $0.27 against the consensus Street estimate of $0.00. Kandi Technologies posted revenue of $32.96 million against estimates of $12.16 million.Kandi Technologies Group Inc (KNDI) is currently valued at $587.16 million and closed the last trading session at $14.01. The stock has a 50-day moving average of $16.67 and a 200-day moving average of $15.07.

Is this a Buying Opportunity?There are no analysts that cover the stock.Company ProfileKandi Technologies Group, Inc., through its subsidiaries, designs, develops, manufactures, and commercializes various vehicles. It offers electrical vehicles, all-terrain vehicles, go-karts, and specialized automobiles; and utility vehicles, three-wheeled motorcycles, refitted cars, and various auto generators. Kandi Technologies Group, Inc. sells its products to exporters, importers, distributors, dealers, and business partners in North America, Europe, and China. The company was formerly known as Kandi Technologies, Corp. and changed its name to Kandi Technologies Group, Inc. in December 2012.