Why Kandi Technologies (KNDI) Is Up Today

NEW YORK (TheStreet) -- Kandi Technologies (KNDI) was gaining 10% to $14.69 Monday on news it will expand its electric car rental service in China.

Kandi chairman Hu Xiaoming told Bloomberg that the company plans to extend its service into Beijing and Shanghai. The company is currently looking for local partners in both cities, so the rollout doesn't yet have a timeframe.

The electric car rental service is already available in Hangzhou, where Kandi's offices are located. The company is currently in the process of adding more rental stations for the service, and hopes to rental network will cover the whole city within three to five years.

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TheStreet Ratings team rates KANDI TECHNOLOGIES GROUP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate KANDI TECHNOLOGIES GROUP (KNDI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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