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

Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.87 and traded as low as $0.61. Kandi Technologies Group shares last traded at $0.62, with a volume of 115,546 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered 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, Based on data from MarketBeat.com, Kandi Technologies Group currently has an average rating of “Sell”.

Kandi Technologies Group Stock Performance

The company has a market capitalization of $62.26 million, a PE ratio of -2.07 and a beta of 0.59. The stock’s 50 day moving average is $0.73 and its 200 day moving average is $0.87.

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

Institutional Investors Weigh In On Kandi Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in Kandi Technologies Group by 9.6% during the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after purchasing an additional 12,740 shares in the last quarter. Citadel Advisors LLC boosted its holdings in shares of Kandi Technologies Group by 72.0% in 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. Quinn Opportunity Partners LLC purchased a new position in shares of Kandi Technologies Group in the 3rd quarter worth about $80,000. Finally, Squarepoint Ops LLC bought a new position in shares of Kandi Technologies Group during the 3rd quarter valued at about $37,000. 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.