Boston, MA 06/06/2013 (wallstreetpr) – The share prices of Kandi Technologies Corp. (NASDAQ:KNDI) had surged by 35.97 percent to close at $5.33 per share for the end of last trading session on Wednesday. The shares of the company had been trading in the range of $5.15 to $6.95 per share during the day, thereby pushing the company to hit new peaks. The shares of Kandi Technologies Corp. (NASDAQ:KNDI) had thus recorded new 52 week high price level of $6.95 per share while the 52 week low price level of the company is at $2.33 per share.
Kandi Technologies Corp. (NASDAQ:KNDI), with its operations based in People’s Republic of China is engaged in the design, development, manufacturing and commercialization of different types of vehicles. The product categories of the company include go – karts, all terrain vehicles and specialized automobiles such as electric vehicles. Kandi Technologies Corp. (NASDAQ:KNDI) supplies its products to domestic consumers in China and other international markets.
Kandi Technologies Corp. (NASDAQ:KNDI) had recently received approval from the China’s Ministry of Industry and Information Technology for its new electric car jointly developed by the company with Geely Automobile Holdings Ltd. With this announcement of approval, the shares of the company had surged despite the fall of NASDAQ by 1.27 percent.
The shares of Kandi Technologies Corp. (NASDAQ:KNDI) had witnessed heavy trading volume on Wednesday with nearly 18.71 million shares being exchanged hands, while the average trading volume of the company is at 116,302 shares per day. The company presently holds 32.54 million shares outstanding in the market.
