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

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.84 and traded as low as $0.6319. Kandi Technologies Group shares last traded at $0.7310, with a volume of 13,226,476 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Kandi Technologies Group Price Performance

The stock has a market capitalization of $73.41 million, a price-to-earnings ratio of -2.44 and a beta of 0.60. The stock’s 50 day simple moving average is $0.71 and its 200-day simple moving average is $0.84.

Kandi Technologies Group (NASDAQ:KNDI) last announced its quarterly 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 the consensus estimate of $64.30 million.

Institutional Trading of Kandi Technologies Group

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Kandi Technologies Group by 9.6% in the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after acquiring an additional 12,740 shares in the last quarter. Citadel Advisors LLC grew its holdings in Kandi Technologies Group by 72.0% during the third quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after purchasing an additional 53,496 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Kandi Technologies Group during the third quarter valued at approximately $37,000. Finally, Quinn Opportunity Partners LLC bought a new position in shares of Kandi Technologies Group in the third quarter valued at approximately $80,000. Institutional investors own 3.66% of the company’s stock.

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.