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

Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.94 and traded as low as $0.6113. Kandi Technologies Group shares last traded at $0.6407, with a volume of 171,404 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Kandi Technologies Group Price Performance

The stock’s 50-day moving average is $0.83 and its 200 day moving average is $0.94. The stock has a market cap of $52.99 million, a price-to-earnings ratio of -2.14 and a beta of 0.55.

Kandi Technologies Group (NASDAQ:KNDI) last released 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 business had revenue of $25.57 million during the quarter, compared to the consensus estimate of $64.30 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quinn Opportunity Partners LLC acquired a new stake in Kandi Technologies Group in the third quarter valued at $80,000. Squarepoint Ops LLC purchased a new position in shares of Kandi Technologies Group in the 3rd quarter valued at about $37,000. Citadel Advisors LLC lifted its stake in shares of 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 purchasing an additional 53,496 shares during the period. Finally, Renaissance Technologies LLC grew its position in Kandi Technologies Group by 9.6% during the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock worth $115,000 after buying an additional 12,740 shares during the period. Institutional investors and hedge funds 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.