Kandi Technologies Group (NASDAQ:KNDI) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.90 and traded as low as $0.81. Kandi Technologies Group shares last traded at $0.83, with a volume of 121,526 shares.

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 report on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Kandi Technologies Group has a consensus rating of “Sell”.

Kandi Technologies Group Stock Performance

The company has a 50-day moving average price of $0.78 and a 200-day moving average price of $0.90. The firm has a market capitalization of $83.35 million, a price-to-earnings ratio of -2.77 and a beta of 0.55.

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

Institutional Trading of Kandi Technologies Group

Several institutional investors and hedge funds have recently made changes to their positions in KNDI. Quinn Opportunity Partners LLC purchased a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at about $80,000. Citadel Advisors LLC lifted its holdings in shares of 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 purchasing an additional 53,496 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at about $37,000. Finally, Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 12,740 shares during the last quarter. 3.66% of the stock is owned by hedge funds and other 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.