Kandi Technologies Group (NASDAQ:KNDI) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.89 and traded as low as $0.6794. Kandi Technologies Group shares last traded at $0.7501, with a volume of 107,155 shares trading hands.

Wall Street Analysts Forecast Growth

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

Kandi Technologies Group Stock Performance

The company has a market capitalization of $75.33 million, a P/E ratio of -2.50 and a beta of 0.59. The stock has a 50 day moving average price of $0.76 and a 200 day moving average price of $0.89.

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

Institutional Investors Weigh In On Kandi Technologies Group

Hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in shares of Kandi Technologies Group during the 3rd quarter worth $37,000. Quinn Opportunity Partners LLC purchased a new position in Kandi Technologies Group during the 3rd quarter valued at about $80,000. Renaissance Technologies LLC grew its holdings in Kandi Technologies Group by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after buying an additional 12,740 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in Kandi Technologies Group by 72.0% during the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after buying an additional 53,496 shares in the last quarter. 3.66% of the stock is currently owned by institutional investors.

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.