Kandi Technologies Group (NASDAQ:KNDI) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.13 and traded as low as $0.9299. Kandi Technologies Group shares last traded at $0.9488, with a volume of 30,460 shares.

Analyst Ratings Changes

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

Kandi Technologies Group Price Performance

The stock has a market capitalization of $81.10 million, a P/E ratio of -1.64 and a beta of 0.51. The stock has a fifty day moving average price of $0.96 and a 200 day moving average price of $1.13.

Institutional Investors Weigh In On Kandi Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quinn Opportunity Partners LLC purchased a new stake in shares of Kandi Technologies Group in the third quarter worth about $80,000. Squarepoint Ops LLC bought a new stake in Kandi Technologies Group during the 3rd quarter worth approximately $37,000. Citadel Advisors LLC lifted its stake in Kandi Technologies Group by 72.0% in the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock worth $155,000 after purchasing an additional 53,496 shares in the last quarter. Finally, Renaissance Technologies LLC boosted 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 valued at $115,000 after purchasing an additional 12,740 shares during the period. 3.66% of the stock is currently owned by institutional investors.

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.