Kandi Technologies Group (NASDAQ:KNDI) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.14 and traded as low as $1.01. Kandi Technologies Group shares last traded at $1.03, with a volume of 193,645 shares changing hands.

Wall Street Analyst Weigh In

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

Kandi Technologies Group Stock Performance

The company has a fifty day moving average of $0.94 and a two-hundred day moving average of $1.14. The firm has a market capitalization of $92.31 million, a price-to-earnings ratio of -1.86 and a beta of 0.44.

Hedge Funds Weigh In On Kandi Technologies Group

Several institutional investors and hedge funds have recently modified their holdings of KNDI. 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 shares of Kandi Technologies Group during the third quarter worth approximately $80,000. Finally, Citadel Advisors LLC raised its position 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 buying an additional 53,496 shares in the last quarter. 3.66% of the stock is currently owned by institutional investors and hedge funds.

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.