Kandi Technologies Group (NASDAQ:KNDI) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.20 and traded as low as $0.9001. Kandi Technologies Group shares last traded at $0.9024, with a volume of 94,483 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Kandi Technologies Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Kandi Technologies Group Trading Down 1.9%

The stock has a market capitalization of $77.13 million, a P/E ratio of -1.56 and a beta of 0.78. The stock’s 50 day simple moving average is $1.13 and its 200 day simple moving average is $1.20.

Hedge Funds Weigh In On Kandi Technologies Group

A number of hedge funds have recently bought and sold shares of KNDI. Citadel Advisors LLC raised its stake in Kandi Technologies Group by 72.0% during 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 in the last quarter. Quinn Opportunity Partners LLC bought a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at approximately $80,000. Squarepoint Ops LLC bought a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at approximately $37,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Kandi Technologies Group by 83.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,640 shares of the company’s stock valued at $41,000 after acquiring an additional 13,059 shares in the last quarter. 3.66% of the stock is currently owned by institutional investors and hedge funds.

About Kandi Technologies Group

Kandi Technologies Group, Inc engages in designing, developing, manufacturing, and commercializing electric vehicle (EV) products and parts in the People's Republic of China and the United States. It offers also off-road vehicles, including all-terrain vehicles, utility vehicles, go-karts, electric scooters, and electric self-balancing scooters, as well as related parts; and battery packs and smart battery swap system.