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

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.88 and traded as low as $0.65. Kandi Technologies Group shares last traded at $0.6520, with a volume of 73,428 shares traded.

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 report on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Kandi Technologies Group Price Performance

The company has a fifty day moving average price of $0.74 and a two-hundred day moving average price of $0.87. The firm has a market cap of $66.18 million, a price-to-earnings ratio of -2.20 and a beta of 0.59.

Kandi Technologies Group (NASDAQ:KNDI) last released its 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 company had revenue of $25.57 million during the quarter, compared to analysts’ expectations of $64.30 million.

Hedge Funds Weigh In On Kandi Technologies Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KNDI. Squarepoint Ops LLC purchased a new position in Kandi Technologies Group during the third quarter valued at approximately $37,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Kandi Technologies Group during the 3rd quarter valued at $80,000. Renaissance Technologies LLC grew its holdings in shares of 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 acquiring an additional 12,740 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of 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 acquiring an additional 53,496 shares in the last quarter. Institutional investors and hedge funds own 3.66% of the company’s stock.

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.