Kandi Technologies Group (NASDAQ:KNDI) Shares Cross Below 200-Day Moving Average – Should You Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.90 and traded as low as $0.81. Kandi Technologies Group shares last traded at $0.83, with a volume of 121,526 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Kandi Technologies Group has an average rating of “Sell”.

Kandi Technologies Group Stock Performance

The company’s 50 day moving average price is $0.78 and its 200-day moving average price is $0.90. The company has a market cap of $83.35 million, a price-to-earnings ratio of -2.77 and a beta of 0.55.

Kandi Technologies Group (NASDAQ:KNDI) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.60). The firm had revenue of $25.57 million for the quarter, compared to the consensus estimate of $64.30 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Kandi Technologies Group by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock worth $115,000 after purchasing an additional 12,740 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Kandi Technologies Group during the 3rd quarter worth approximately $37,000. Citadel Advisors LLC grew its position in Kandi Technologies Group by 72.0% during the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock worth $155,000 after purchasing an additional 53,496 shares in the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new position in Kandi Technologies Group during the 3rd quarter worth approximately $80,000. 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.