Kandi Technologies Group (NASDAQ:KNDI) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.84 and traded as low as $0.6319. Kandi Technologies Group shares last traded at $0.7310, with a volume of 13,226,476 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Kandi Technologies Group Price Performance

The stock’s fifty day simple moving average is $0.71 and its 200-day simple moving average is $0.84. The firm has a market cap of $71.48 million, a PE ratio of -2.37 and a beta of 0.60.

Kandi Technologies Group (NASDAQ:KNDI) last issued its earnings results on Wednesday, April 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.60). The company had revenue of $25.57 million during the quarter, compared to the consensus estimate of $64.30 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in Kandi Technologies Group by 9.6% during the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after purchasing an additional 12,740 shares during the period. Citadel Advisors LLC boosted its stake in shares of Kandi Technologies Group by 72.0% in the third quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock worth $155,000 after buying an additional 53,496 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Kandi Technologies Group during the third quarter worth about $37,000. Finally, Quinn Opportunity Partners LLC acquired a new stake in Kandi Technologies Group during the third quarter worth about $80,000. Hedge funds and other institutional investors own 3.66% of the company’s stock.

About Kandi Technologies Group

Kandi Technologies Group, Inc is a China-based manufacturer focused on the design, development and production of electric vehicles (EVs), batteries and charging infrastructure. The company offers a range of small, neighborhood electric vehicles (NEVs) under its own brand and supplies key components—including battery packs and electric drive systems—to automotive partners. In addition to vehicle manufacturing, Kandi is engaged in the development and operation of charging stations and battery-swap facilities intended to support EV adoption in urban environments.

Founded in 2002 and headquartered in Jinhua, Zhejiang Province, Kandi began its operations producing all-terrain vehicles (ATVs) and recreational off-road products.