Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below 200-Day Moving Average – What’s Next?

Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.14 and traded as low as $1.0590. Kandi Technologies Group shares last traded at $1.07, with a volume of 56,746 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kandi Technologies Group in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Kandi Technologies Group Stock Up 0.9%

The company has a market cap of $91.46 million, a price-to-earnings ratio of -1.84 and a beta of 0.51. The stock’s 50-day simple moving average is $0.95 and its 200 day simple moving average is $1.14.

Institutional Investors Weigh In On Kandi Technologies Group

A number of institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at $37,000. Quinn Opportunity Partners LLC acquired a new position in Kandi Technologies Group in the 3rd quarter valued at about $80,000. Finally, Citadel Advisors LLC increased its stake in Kandi Technologies Group by 72.0% during 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. 3.66% of the stock is owned by institutional investors and hedge funds.

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.