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

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.89 and traded as low as $0.6794. Kandi Technologies Group shares last traded at $0.7501, with a volume of 107,155 shares.

Analysts Set New Price Targets

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 research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Kandi Technologies Group Stock Down 4.5%

The stock has a market cap of $71.03 million, a P/E ratio of -2.36 and a beta of 0.59. The firm’s fifty day moving average price is $0.76 and its 200-day moving average price is $0.89.

Kandi Technologies Group (NASDAQ:KNDI) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $64.30 million.

Institutional Trading of Kandi Technologies Group

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in Kandi Technologies Group by 9.6% in the fourth 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. Citadel Advisors LLC boosted its holdings in Kandi Technologies Group by 72.0% in the third 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. Quinn Opportunity Partners LLC bought a new stake in Kandi Technologies Group in the third quarter valued at $80,000. Finally, Squarepoint Ops LLC bought a new stake in Kandi Technologies Group in the third quarter valued at $37,000. Institutional investors 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.