Kandi Technologies (KNDI) AI Stock Analysis

Kandi Technologies

(NASDAQ:KNDI)

Select Model

Rating:51Neutral

Price Target:$3.50▲(0.09% Upside)

Action:reiterated

Date:10/23/26

The score is constrained primarily by weak and volatile financial performance, bearish technical positioning, and the negative P/E ratio. Positive earnings-call developments, including renewed profitability, strong revenue growth, liquidity, and emerging growth initiatives, provide meaningful upside but require sustained execution.

Positive Factors

Revenue and profit recoveryThe sharp first-half revenue increase, supported by off-road vehicle sales and Rawrr, shows stronger product demand and expanded commercial scale. The return to operating profitability suggests improved operating leverage, although continued execution is needed to establish this as a durable earnings trend.

Negative Factors

Volatile, loss-making historyRecent revenue weakness and sizable operating and net losses indicate that the improved 2026 results have not yet demonstrated a stable multi-period earnings base. Persistent losses can consume equity, constrain reinvestment and make future performance more dependent on successful product and market execution.

Kandi Technologies (KNDI) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $35.63M
Dividend Yield: ―
Average Volume (3M): 172.99K
Price to Earnings (P/E): -0.3
Beta (1Y): 0.94
Revenue Growth: ―
EPS Growth: ―
Country: US
Employees: 595
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Auto - Manufacturers

Kandi Technologies Business Overview & Revenue Model

Company Description

Kandi Technologies Group, Inc. is an enterprise focused on the entire lifecycle—from conceptualization and engineering to manufacturing and market distribution—of electric vehicles (EVs) and their crucial components, as well as a diverse range of off...

How the Company Makes Money

Kandi’s revenue model has historically been tied to monetizing electric mobility products and related activities. Key ways the company makes (or has made) money include: (1) selling electric vehicles and/or EV components through its operating entitie...

Kandi Technologies Earnings Call Summary

Earnings Call Date:Sep 27, 2026(Q2-2026)|% Change Since:-40.53%|Next Earnings Date:Jun 04, 2020

Earnings Call SentimentPositive

The call was strongly positive, with 57.4% revenue growth, a 452.2% increase in net income, a return to operating profitability, doubled average monthly U.S. dealer sales and commercial progress in battery swapping and AI data center energy solutions. The main challenges were a decline in gross margin, cost of goods sold growing faster than revenue, intense price competition, product and inventory transitions, and the early-stage status of intelligent robotics.

Positive Updates

Strong First-Half Revenue Growth

First-half revenue increased 57.4% year-over-year to $57.1 million, mainly due to higher off-road vehicle sales and additional revenue from Rawrr, which Kandi acquired in February 2026.

Negative Updates

Gross Margin Declined

Gross margin was 43.4%, compared with 45.2% in the same period of 2025.

Company Guidance

The company expects its battery-swapping equipment business to begin generating meaningful revenue in the second half of this year, expects Xinchu New Energy to make meaningful revenue contribution this year, and expects to complete the transition to an all-new Kandi product lineup in the fourth quarter. Rawrr has new product launches planned for 2027, and the company expects a significant upgrade to Kandi's product portfolio, new product launches, and revenue contributions from its emerging businesses to drive stronger growth in 2027.

Kandi Technologies Financial Statement Overview

Summary

Financial performance is weak overall: revenue declined sharply in 2025 and losses were substantial. Low debt and very strong 2025 operating and free cash flow provide support, but declining equity and highly volatile results remain significant risks.

Income Statement

28Negative

Balance Sheet

52Neutral

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	108.27M	87.44M	127.57M	123.60M	117.81M	91.49M
Gross Profit	45.72M	37.29M	39.27M	41.37M	19.52M	16.25M
EBITDA	-26.85M	-35.70M	-32.63M	301.05K	-11.91M	-37.03M
Net Income	-86.26M	-93.88M	-50.50M	7,132	-12.12M	22.86M
Balance Sheet
Total Assets	461.43M	399.66M	473.90M	495.46M	482.98M	520.16M
Cash, Cash Equivalents and Short-Term Investments	223.74M	211.94M	42.79M	67.70M	165.25M	184.27M
Total Debt	43.65M	47.23M	84.86M	41.53M	24.69M	11.36M
Total Liabilities	153.72M	129.60M	127.27M	88.95M	85.29M	76.96M
Stockholders Equity	307.70M	270.06M	344.70M	404.12M	396.97M	443.20M
Cash Flow
Free Cash Flow	0	176.14M	-18.75M	-114.41M	27.66M	-18.90M
Operating Cash Flow	0	176.61M	-17.82M	-101.16M	31.48M	241.69K
Investing Cash Flow	0	-78.18M	25.72M	32.28M	-35.03M	22.21M
Financing Cash Flow	0	-93.65M	22.51M	14.83M	-4.33M	747.93K

Kandi Technologies Technical Analysis

Technical Analysis SentimentNegative

Last Price3.50

Price Trends

50DMA5.66Negative

100DMA6.19Negative

200DMA7.48Negative

Market Momentum

MACD-0.76Positive

RSI31.47Neutral

STOCH51.90Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KNDI, the sentiment is Negative. The current price of 3.50 is below the 20-day moving average (MA) of 4.60, below the 50-day MA of 5.66, and below the 200-day MA of 7.48, indicating a bearish trend. The MACD of -0.76 indicates Positive momentum. The RSI at 31.47 is Neutral, neither overbought nor oversold. The STOCH value of 51.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KNDI.

Kandi Technologies Risk Analysis

Kandi Technologies disclosed 49 risk factors in its most recent earnings report. Kandi Technologies reported the most risks in the "Legal & Regulatory" category.

Legal & Regulatory - Litigation, compliance, new legislation, and taxation risks

Latest Risks Added

3 New Risks

1.Your rights as a shareholder of Kandi will change as a result of the Reincorporation and you may not be afforded as many rights as a shareholder of Kandi BVI under applicable laws and the Kandi BVI memorandum and articles of association as you were as a shareholder of Kandi under applicable laws and the Kandi certificate of incorporation and bylaws.Q4, 2023

2.BVI companies may not be able to initiate shareholder derivative actions, thereby depriving shareholders of the ability to protect their interests.Q4, 2023

3.Kandi BVI's Amended and Restated Articles of Association provide for the exclusive jurisdiction of the Courts of the British Virgin Islands for substantially all disputes between Kandi BVI and its shareholders, which could limit the shareholders' ability to obtain a favorable judicial forum for disputes with Kandi BVI or its directors, officers, other employees or shareholders.Q4, 2023

Kandi Technologies Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

KNDI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
KNDI	51Neutral	$35.63M	-0.33	-29.86%	―	―	―
GGR	45Neutral	$43.14M	-0.96	-40.61%	―	-1.28%	66.22%
LOBO	41Neutral	$6.12M	-1.14	-52.55%	―	21.59%	13.00%
NIU	41Neutral	$141.18M	-4.78	-23.44%	―	28.79%	-42.90%
SEV	40Underperform	$67.54M	-1.20	658.45%	―	―	―
CENN	39Underperform	$32.36M	-0.03	-153.17%	―	-39.70%	13.16%

* Consumer Cyclical Sector Average

Performance Comparison

KNDI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
KNDI	Kandi Technologies	3.53	-7.77	-68.76%
CENN	Cenntro Electric Group Limited	1.84	-9.11	-83.20%
NIU	Niu Tech	1.80	-2.07	-53.43%
GGR	Gogoro	2.92	-0.80	-21.51%
LOBO	Lobo EV Technologies Ltd.	0.42	-0.42	-50.00%
SEV	Aptera Motors Corp. Class B	1.65	-5.87	-78.06%

Kandi Technologies Corporate Events

Kandi Technologies to Implement 1-for-10 Reverse Stock Split on October 16

Oct 13, 2026

Kandi Technologies Group, Inc. announced on October 13, 2026 that it will implement a 1-for-10 reverse stock split of its ordinary shares, effective at the opening of trading on October 16, 2026. The company’s shares will continue to trade on a...

Kandi Technologies Reports Surging H1 2026 Profit on Off-Road Vehicle Growth and Rawrr Acquisition

Sep 28, 2026

Kandi Technologies Group, Inc., a China-based maker of off-road vehicles and related components, reported sharply improved results for the six months ended June 30, 2026, driven largely by higher unit sales and the consolidation of newly acquired Raw...

Kandi Technologies Details Financial Impact of Rawrr Acquisition in Latest SEC Filing

Sep 25, 2026

On September 25, 2026, Kandi Technologies Group, Inc. filed a Form 6-K furnishing audited financial statements for its acquired subsidiary Rawrr Inc. for the year ended December 31, 2025. The filing also included unaudited pro forma financial stateme...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 23, 2026

Kandi Technologies AI Stock Analysis