Kandi Technologies Group (NASDAQ:KNDI) Shares Cross Below 200-Day Moving Average - Should You Sell?

Key Points

• Kandi Technologies Group shares fell below their 200-day moving average, reaching a low of $1.20 during trading, indicating potential selling pressure.
• Wall Street analysts have downgraded Kandi Technologies from a "hold" to a "sell" rating, reflecting concerns over recent performance.
• Institutional interest remains, with Connor Clark & Lunn Investment Management raising their stake in Kandi Technologies by 83.8% in the first quarter.

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 $1.25 and traded as low as $1.20. Kandi Technologies Group shares last traded at $1.21, with a volume of 33,620 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Kandi Technologies Group from a "hold" rating to a "sell" rating in a report on Friday, June 6th.

Kandi Technologies Group Trading Down 2.0%

The firm's 50 day moving average price is $1.33 and its 200-day moving average price is $1.25. The stock has a market cap of $103.00 million, a P/E ratio of -2.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.75 and a quick ratio of 3.23.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Kandi Technologies Group stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in Kandi Technologies Group, Inc. (NASDAQ:KNDI - Free Report) by 83.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,640 shares of the company's stock after buying an additional 13,059 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Kandi Technologies Group were worth $41,000 as of its most recent SEC filing. Institutional investors own 3.66% of the company's stock.

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.

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