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

Kandi Technologies Group, Inc. (NASDAQ:KNDI – Get Free Report)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.87 and traded as low as $0.61. Kandi Technologies Group shares last traded at $0.62, with a volume of 115,546 shares changing hands.

Analysts Set New Price Targets

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

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Read Our Latest Stock Analysis on Kandi Technologies Group

Kandi Technologies Group Trading Down 1.1%

The firm’s 50 day simple moving average is $0.72 and its 200 day simple moving average is $0.86. The firm has a market cap of $60.75 million, a PE ratio of -2.02 and a beta of 0.59.

Kandi Technologies Group (NASDAQ:KNDI – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.60). The company had revenue of $25.57 million for the quarter, compared to the consensus estimate of $64.30 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in shares of Kandi Technologies Group by 9.6% during 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 grew 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 acquiring an additional 53,496 shares in the last quarter. Quinn Opportunity Partners LLC purchased a new stake in shares of Kandi Technologies Group in the third quarter valued at approximately $80,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Kandi Technologies Group in the third quarter valued at approximately $37,000. 3.66% of the stock is owned by hedge funds and other institutional investors.

About Kandi Technologies Group

(Get Free Report)

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.

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