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

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.15 and traded as low as $0.92. Kandi Technologies Group shares last traded at $0.9846, with a volume of 62,789 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kandi Technologies Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Kandi Technologies Group Trading Up 5.9%

The firm has a market cap of $84.16 million, a P/E ratio of -1.70 and a beta of 0.44. The business’s 50-day moving average is $0.93 and its two-hundred day moving average is $1.15.

Institutional Trading of Kandi Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in KNDI. Squarepoint Ops LLC acquired a new position in shares of Kandi Technologies Group during the third quarter worth approximately $37,000. Citadel Advisors LLC increased its position in Kandi Technologies Group by 72.0% in the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after acquiring an additional 53,496 shares during the period. Finally, Quinn Opportunity Partners LLC bought a new stake in Kandi Technologies Group during the 3rd quarter valued at $80,000. 3.66% of the stock is currently owned by institutional investors and hedge funds.

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.