Kandi Technologies Group (NASDAQ:KNDI) Stock Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Kandi Technologies Group's stock price has fallen below its 200-day moving average, closing at $1.12 compared to the average of $1.22.
• Analysts at Wall Street Zen have downgraded Kandi Technologies' rating from "hold" to "sell," indicating a lack of confidence in the stock's performance.
• In the latest earnings report, the company reported an EPS of ($0.28), which was significantly below consensus estimates, reflecting ongoing financial challenges.

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.22 and traded as low as $1.12. Kandi Technologies Group shares last traded at $1.12, with a volume of 121,090 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Kandi Technologies Group from a "hold" rating to a "sell" rating in a research note on Friday, June 6th.

Kandi Technologies Group Stock Down 0.0%

The company has a 50-day simple moving average of $1.15 and a 200 day simple moving average of $1.23. The company has a market cap of $95.74 million, a P/E ratio of -1.93 and a beta of 0.74. The company has a current ratio of 2.95, a quick ratio of 2.52 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Kandi Technologies Group by 83.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,640 shares of the company's stock worth $41,000 after acquiring an additional 13,059 shares during the last quarter. Marshall Wace LLP purchased a new stake in Kandi Technologies Group in the fourth quarter valued at $72,000. Renaissance Technologies LLC raised its position in Kandi Technologies Group by 48.8% in the fourth quarter. Renaissance Technologies LLC now owns 69,934 shares of the company's stock valued at $84,000 after purchasing an additional 22,934 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Kandi Technologies Group in the fourth quarter valued at $91,000. 3.66% of the stock is 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.