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

Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.14 and traded as low as $1.01. Kandi Technologies Group shares last traded at $1.03, with a volume of 193,645 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kandi Technologies Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Kandi Technologies Group Price Performance

The stock’s fifty day simple moving average is $0.93 and its two-hundred day simple moving average is $1.14. The company has a market capitalization of $88.04 million, a price-to-earnings ratio of -1.78 and a beta of 0.44.

Institutional Investors Weigh In On Kandi Technologies Group

Large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new position in shares of Kandi Technologies Group during the third quarter valued at $37,000. Citadel Advisors LLC lifted its position in 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 during the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new position in Kandi Technologies Group during the 3rd quarter valued at about $80,000. 3.66% of the stock is owned by institutional investors and hedge funds.

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.