Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below 200 Day Moving Average – Should You Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price passed 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 trading hands.

Analysts Set New Price Targets

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

Kandi Technologies Group Stock Performance

The stock has a market cap of $88.04 million, a price-to-earnings ratio of -1.78 and a beta of 0.44. The company’s 50 day simple moving average is $0.93 and its 200 day simple moving average is $1.14.

Institutional Investors Weigh In On Kandi Technologies Group

A number of institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in Kandi Technologies Group during the 3rd quarter valued at $37,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Kandi Technologies Group in the third quarter valued at $80,000. Finally, Citadel Advisors LLC lifted its holdings 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 buying an additional 53,496 shares during the period. 3.66% of the stock is currently owned by institutional investors and hedge funds.

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.