Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below 200-Day Moving Average – Here’s Why

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.04 and traded as low as $0.7850. Kandi Technologies Group shares last traded at $0.8081, with a volume of 123,429 shares traded.

Wall Street Analysts Forecast Growth

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

Kandi Technologies Group Trading Up 0.2%

The firm has a fifty day moving average of $0.98 and a two-hundred day moving average of $1.03. The company has a market capitalization of $71.56 million, a PE ratio of -1.44 and a beta of 0.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in Kandi Technologies Group by 9.6% in the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock worth $115,000 after acquiring an additional 12,740 shares during the last quarter. Citadel Advisors LLC lifted its stake in Kandi Technologies Group by 72.0% in the third quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock worth $155,000 after acquiring an additional 53,496 shares during the period. 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.