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

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.75 and traded as low as $0.5901. Kandi Technologies Group shares last traded at $0.6065, with a volume of 56,718 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Kandi Technologies Group in a report on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Kandi Technologies Group has an average rating of “Sell”.

Kandi Technologies Group Trading Up 1.0%

The stock has a market cap of $60.90 million, a P/E ratio of -2.02 and a beta of 0.60. The firm’s fifty day moving average is $0.66 and its 200 day moving average is $0.75.

Hedge Funds Weigh In On Kandi Technologies Group

Several large investors have recently made changes to their positions in KNDI. Quinn Opportunity Partners LLC bought a new stake in Kandi Technologies Group in the 3rd quarter valued at $80,000. Citadel Advisors LLC grew its position in Kandi Technologies Group by 72.0% in the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock worth $155,000 after purchasing an additional 53,496 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Kandi Technologies Group during the 3rd quarter worth about $37,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Kandi Technologies Group by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company’s stock worth $115,000 after purchasing an additional 12,740 shares during the period. Institutional investors and hedge funds own 3.66% of the company’s stock.

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.