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

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 $0.78 and traded as low as $0.63. Kandi Technologies Group shares last traded at $0.6580, with a volume of 59,009 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kandi Technologies Group in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Kandi Technologies Group Stock Performance

The firm has a market capitalization of $62.26 million, a PE ratio of -2.07 and a beta of 0.61. The company’s 50 day simple moving average is $0.67 and its 200-day simple moving average is $0.78.

Hedge Funds Weigh In On Kandi Technologies Group

Institutional investors have recently bought and sold shares of the stock. Quinn Opportunity Partners LLC purchased a new position in shares of Kandi Technologies Group during the third quarter valued at approximately $80,000. Citadel Advisors LLC grew 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 acquiring an additional 53,496 shares during the period. Squarepoint Ops LLC purchased a new stake in Kandi Technologies Group during the 3rd quarter valued at $37,000. Finally, Renaissance Technologies LLC lifted its holdings in 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 acquiring an additional 12,740 shares during the period. 3.66% of the stock is owned by 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.