Kandi Technologies Group (NASDAQ:KNDI) Stock Passes Below 200 Day Moving Average – What’s Next?

Kandi Technologies Group, Inc. (NASDAQ:KNDI) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.18 and traded as low as $0.87. Kandi Technologies Group shares last traded at $0.8803, with a volume of 244,739 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Kandi Technologies Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Kandi Technologies Group Price Performance

The company has a market capitalization of $75.07 million, a price-to-earnings ratio of -1.51 and a beta of 0.36. The firm’s 50-day simple moving average is $1.06 and its two-hundred day simple moving average is $1.18.

Institutional Trading of Kandi Technologies Group

A number of institutional investors have recently bought and sold shares of KNDI. Quinn Opportunity Partners LLC acquired a new stake in shares of Kandi Technologies Group during the third quarter valued at $80,000. Citadel Advisors LLC lifted 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 purchasing an additional 53,496 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Kandi Technologies Group during the 3rd quarter worth about $37,000. 3.66% of the stock is currently owned by hedge funds and other institutional investors.

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.