Kandi Technologies Group (NASDAQ:KNDI) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.91 and traded as low as $0.7083. Kandi Technologies Group shares last traded at $0.7222, with a volume of 55,736 shares trading hands.

Analysts Set New Price Targets

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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Kandi Technologies Group Trading Up 1.6%

The business’s 50 day moving average price is $0.80 and its 200-day moving average price is $0.91. The company has a market cap of $73.69 million, a price-to-earnings ratio of -2.45 and a beta of 0.55.

Kandi Technologies Group (NASDAQ:KNDI) last posted its 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 firm had revenue of $25.57 million for the quarter, compared to the consensus estimate of $64.30 million.

Institutional Trading of Kandi Technologies Group

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in Kandi Technologies Group in the 3rd quarter worth about $37,000. Quinn Opportunity Partners LLC bought a new position in Kandi Technologies Group in the 3rd quarter valued at about $80,000. Renaissance Technologies LLC increased 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 buying an additional 12,740 shares during the period. Finally, Citadel Advisors LLC increased its holdings in Kandi Technologies Group by 72.0% in the 3rd 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. Institutional investors and hedge funds own 3.66% of the company’s stock.

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.