Kandi Technologies Group (NASDAQ:KNDI) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.94 and traded as low as $0.6113. Kandi Technologies Group shares last traded at $0.6407, with a volume of 171,404 shares trading hands.

Analyst Ratings Changes

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

Kandi Technologies Group Stock Down 4.0%

The company has a market cap of $65.46 million, a P/E ratio of -2.17 and a beta of 0.55. The business has a fifty day moving average of $0.82 and a 200 day moving average of $0.93.

Kandi Technologies Group (NASDAQ:KNDI) last announced its earnings results on Wednesday, April 29th. The company reported ($0.57) 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 Investors Weigh In On Kandi Technologies Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Kandi Technologies Group by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock worth $115,000 after purchasing an additional 12,740 shares during the period. Squarepoint Ops LLC purchased a new stake in Kandi Technologies Group in the third quarter worth $37,000. Citadel Advisors LLC grew 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 worth $155,000 after purchasing an additional 53,496 shares during the period. Finally, Quinn Opportunity Partners LLC purchased a new stake in Kandi Technologies Group in the third quarter worth $80,000. 3.66% of the stock is owned by hedge funds and other institutional investors.

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.