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

Kandi Technologies Group, Inc. (NASDAQ:KNDI) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.89 and traded as low as $0.6794. Kandi Technologies Group shares last traded at $0.7501, with a volume of 107,155 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Kandi Technologies Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Kandi Technologies Group currently has a consensus rating of “Sell”.

Kandi Technologies Group Trading Up 2.1%

The firm’s 50-day moving average is $0.76 and its 200-day moving average is $0.89. The firm has a market cap of $75.33 million, a price-to-earnings ratio of -2.50 and a beta of 0.59.

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

Hedge Funds Weigh In On Kandi Technologies Group

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in Kandi Technologies Group by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock valued at $115,000 after acquiring an additional 12,740 shares in the last quarter. Squarepoint Ops LLC bought a new position in Kandi Technologies Group during the 3rd quarter valued at $37,000. Citadel Advisors LLC lifted its stake in Kandi Technologies Group by 72.0% during the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after acquiring an additional 53,496 shares in the last quarter. Finally, Quinn Opportunity Partners LLC bought a new position in Kandi Technologies Group during the 3rd quarter valued at $80,000. 3.66% of the stock is currently owned by 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.