Kandi Technologies Group (NASDAQ:KNDI) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.85 and traded as low as $0.6708. Kandi Technologies Group shares last traded at $0.69, with a volume of 61,686 shares changing hands.

Wall Street Analyst Weigh In

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

Kandi Technologies Group Stock Down 0.2%

The company has a market cap of $69.29 million, a P/E ratio of -2.30 and a beta of 0.60. The firm has a 50 day moving average of $0.71 and a 200-day moving average of $0.85.

Kandi Technologies Group (NASDAQ:KNDI) last issued its earnings results on Wednesday, April 29th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.60). The business 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 the company. Quinn Opportunity Partners LLC purchased a new stake in Kandi Technologies Group in the third quarter worth about $80,000. Squarepoint Ops LLC purchased a new position in Kandi Technologies Group during the 3rd quarter valued at about $37,000. Citadel Advisors LLC raised 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 in the last quarter. Finally, Renaissance Technologies LLC raised 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 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.