Kandi Technologies Group (NASDAQ:KNDI) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.81 and traded as low as $0.61. Kandi Technologies Group shares last traded at $0.6282, with a volume of 105,929 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kandi Technologies Group in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Kandi Technologies Group presently has a consensus rating of “Sell”.

Kandi Technologies Group Stock Down 0.9%

The stock has a market capitalization of $62.64 million, a PE ratio of -2.08 and a beta of 0.61. The business’s 50-day moving average is $0.69 and its two-hundred day moving average is $0.81.

Institutional Trading of Kandi Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quinn Opportunity Partners LLC acquired a new stake in Kandi Technologies Group during the 3rd quarter worth $80,000. Citadel Advisors LLC increased its stake in Kandi Technologies Group by 72.0% in the third quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after purchasing an additional 53,496 shares during the period. Squarepoint Ops LLC acquired a new position in Kandi Technologies Group in the third quarter valued at $37,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Kandi Technologies Group by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after buying an additional 12,740 shares during the last quarter. 3.66% of the stock is owned by hedge funds and other institutional investors.

Kandi Technologies Group Company Profile

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.