Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below 200-Day Moving Average – Time to Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.85 and traded as low as $0.7094. Kandi Technologies Group shares last traded at $0.7217, with a volume of 148,795 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered 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, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Kandi Technologies Group Price Performance

The stock has a market cap of $72.47 million, a P/E ratio of -2.41 and a beta of 0.60. The firm’s 50-day moving average price is $0.71 and its 200-day moving average price is $0.85.

Kandi Technologies Group (NASDAQ:KNDI) last released its earnings results on Wednesday, April 29th. The company reported ($0.57) 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 analysts’ expectations of $64.30 million.

Institutional Trading of Kandi Technologies Group

Hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC bought a new position in shares of Kandi Technologies Group during the 3rd quarter valued at about $37,000. Quinn Opportunity Partners LLC purchased a new position in shares of Kandi Technologies Group during the third quarter valued at about $80,000. Citadel Advisors LLC increased its holdings 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 purchasing an additional 53,496 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Kandi Technologies Group by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock worth $115,000 after purchasing an additional 12,740 shares during the last quarter. Hedge funds and other institutional investors own 3.66% of the company’s stock.

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.