Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below 200-Day Moving Average – What’s Next?

Kandi Technologies Group, Inc. (NASDAQ:KNDI) shares 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 cut shares of Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Kandi Technologies Group Price Performance

The firm has a market cap of $72.47 million, a price-to-earnings ratio of -2.41 and a beta of 0.60. The business has a fifty day simple moving average of $0.71 and a 200 day simple moving average of $0.85.

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

Institutional Investors Weigh In On Kandi Technologies Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake 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 buying an additional 12,740 shares in the last quarter. Citadel Advisors LLC raised its holdings 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 last quarter. Squarepoint Ops LLC acquired a new stake in Kandi Technologies Group in the 3rd quarter valued at about $37,000. Finally, Quinn Opportunity Partners LLC purchased a new position in Kandi Technologies Group in the 3rd quarter worth approximately $80,000. Institutional investors and hedge funds 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.