NEW YORK (TheStreet) -- Kandi Technologies(KNDI) - Get Report stock is soaring 16.39% to $9.02 on heavy trading volume this afternoon after reporting 2015 fourth quarter earnings.

Before the market open, the China-based electric vehicles manufacturer reported adjusted earnings of 30 cents per share, up from 9 cents per share in the year-ago period. 

Revenue increased 11.2% to $58.8 million for the most recent period, compared to $52.9 million for the 2014 fourth quarter. This was driven by electric vehicle parts sales, which rose 51.6% year-over-year to $57.5 million.

For the 2016 first quarter, Kandi Technologies expects that revenue will be between $46.0 million and $48.0 million.

About 2.8 million shares of Kandi Technologies have been traded so far today, well above the company's average trading volume of roughly 381,914 shares per day. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

Kandi Technologies' strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations are countered by weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and poor profit margins.

You can view the full analysis from the report here: KNDI

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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