Kandi Technologies Group (NASDAQ:KNDI) Share Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Kandi (NASDAQ:KNDI) slipped below its 200-day moving average, trading as low as $0.92 and last at $0.9564 versus the 200-day MA of $1.07 (50-day MA $1.00) on volume of 119,561 shares and down about 3.6%.
• Wall Street sentiment is negative: Weiss Ratings reiterated a "sell (d)" and MarketBeat shows an overall average rating of "Sell."
• The company has a market cap of $81.75 million, a negative P/E of -1.65, and low institutional ownership (~3.66%), signaling limited institutional confidence.

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.07 and traded as low as $0.92. Kandi Technologies Group shares last traded at $0.9564, with a volume of 119,561 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Kandi Technologies Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of "Sell".

Kandi Technologies Group Stock Down 3.6%

The stock has a market cap of $81.75 million, a price-to-earnings ratio of -1.65 and a beta of 0.55. The company has a 50 day simple moving average of $1.00 and a 200 day simple moving average of $1.07.

Institutional Trading of Kandi Technologies Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in 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 acquiring an additional 12,740 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Kandi Technologies Group during the third quarter worth $37,000. Citadel Advisors LLC lifted its holdings in shares of Kandi Technologies Group by 72.0% during the third 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 period. Finally, Quinn Opportunity Partners LLC bought a new stake in shares of Kandi Technologies Group in the third quarter worth $80,000. 3.66% of the stock is currently owned by institutional investors.

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.

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