Kandi Technologies Group (NASDAQ:KNDI) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.20 and traded as low as $0.9001. Kandi Technologies Group shares last traded at $0.9024, with a volume of 94,483 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kandi Technologies Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Kandi Technologies Group Trading Down 1.9%

The stock has a market cap of $77.13 million, a P/E ratio of -1.56 and a beta of 0.78. The stock’s 50-day moving average is $1.13 and its 200-day moving average is $1.20.

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. Citadel Advisors LLC lifted its position 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. Squarepoint Ops LLC acquired a new position in shares of Kandi Technologies Group during the 3rd quarter valued at $37,000. Quinn Opportunity Partners LLC bought a new stake in shares of Kandi Technologies Group in the 3rd quarter worth $80,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Kandi Technologies Group by 83.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,640 shares of the company’s stock valued at $41,000 after buying an additional 13,059 shares during the period. Institutional investors own 3.66% of the company’s stock.

About Kandi Technologies Group

Kandi Technologies Group, Inc engages in designing, developing, manufacturing, and commercializing electric vehicle (EV) products and parts in the People's Republic of China and the United States. It offers also off-road vehicles, including all-terrain vehicles, utility vehicles, go-karts, electric scooters, and electric self-balancing scooters, as well as related parts; and battery packs and smart battery swap system.