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 Thursday . The stock has a 200-day moving average of $0.91 and traded as low as $0.7083. Kandi Technologies Group shares last traded at $0.7222, with a volume of 55,736 shares.

Analyst Upgrades and Downgrades

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

Kandi Technologies Group Stock Performance

The business has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $0.91. The stock has a market cap of $72.52 million, a price-to-earnings ratio of -2.41 and a beta of 0.55.

Kandi Technologies Group (NASDAQ:KNDI) last released its quarterly 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 analysts’ expectations of $64.30 million.

Institutional Investors Weigh In On Kandi Technologies Group

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted 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 buying an additional 12,740 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at approximately $37,000. Citadel Advisors LLC boosted 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 buying an additional 53,496 shares during the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at 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.