Kandi reported earnings of 8 cents a share for the second quarter. Revenue grew 171.1% year-over-year to $32.96 million for the quarter.
Revenue from electric vehicles grew 552.1% from the year-ago quarter to $13.25 million. Kandi's joint venture sold a total of 4,114 electric vehicles in the second quarter, up from 1,215 in the previous quarter.
Must read: Warren Buffett's 25 Favorite Stocks
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.
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 largely solid financial position with reasonable debt levels by most measures. 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: