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

Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.82 and traded as low as $1.07. Kandi Technologies Group shares last traded at $1.11, with a volume of 167,992 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Kandi Technologies Group from a “sell” rating to a “hold” rating in a research report on Monday, August 19th.

Kandi Technologies Group Stock Performance

The firm has a market capitalization of $95.11 million, a price-to-earnings ratio of -13.81 and a beta of 1.40. The company has a 50-day moving average price of $1.55 and a 200-day moving average price of $1.82. The company has a quick ratio of 3.26, a current ratio of 4.11 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Kandi Technologies Group stock. Impact Partnership Wealth LLC acquired a new position in Kandi Technologies Group, Inc. (NASDAQ:KNDI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,000 shares of the company’s stock, valued at approximately $57,000. 3.66% of the stock is owned by hedge funds and other institutional investors.

About Kandi Technologies Group

Kandi Technologies Group, Inc engages in designing, developing, manufacturing, and commercializing electric vehicle (EV) products and parts in the People's Republic of China and the United States. It offers also off-road vehicles, including all-terrain vehicles, utility vehicles, go-karts, electric scooters, and electric self-balancing scooters, as well as related parts; and battery packs and smart battery swap system.