Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below 200-Day Moving Average – What’s Next?

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.14 and traded as low as $1.0590. Kandi Technologies Group shares last traded at $1.07, with a volume of 56,746 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Kandi Technologies Group in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Kandi Technologies Group Trading Up 0.9%

The company has a fifty day moving average of $0.95 and a 200-day moving average of $1.14. The company has a market capitalization of $91.46 million, a price-to-earnings ratio of -1.84 and a beta of 0.51.

Hedge Funds Weigh In On Kandi Technologies Group

A number of institutional investors have recently added to or reduced their stakes in KNDI. Quinn Opportunity Partners LLC purchased a new stake in Kandi Technologies Group in the 3rd quarter valued at $80,000. Squarepoint Ops LLC acquired a new position in shares of Kandi Technologies Group during the 3rd quarter valued at about $37,000. Finally, Citadel Advisors LLC grew 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 purchasing an additional 53,496 shares during the period. Hedge funds and other institutional investors 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.