Kandi Technologies Group (NASDAQ:KNDI) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report)'s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.20 and traded as low as $1.11. Kandi Technologies Group shares last traded at $1.16, with a volume of 127,347 shares.

Analyst Upgrades and Downgrades

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

Kandi Technologies Group Stock Up 1.8%

The stock has a 50-day moving average price of $1.15 and a 200-day moving average price of $1.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.95 and a quick ratio of 2.52. The company has a market capitalization of $99.16 million, a P/E ratio of -2.00 and a beta of 1.00.

Kandi Technologies Group (NASDAQ:KNDI - Get Free Report) last released its earnings results on Monday, April 28th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.26). Kandi Technologies Group had a negative net margin of 39.45% and a negative return on equity of 6.82%. The firm had revenue of $41.00 million for the quarter, compared to analyst estimates of $41.00 million.

Hedge Funds Weigh In On Kandi Technologies Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. bought a new stake in shares of Kandi Technologies Group in the 4th quarter valued at $36,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 in the last quarter. Marshall Wace LLP bought a new position in Kandi Technologies Group in the fourth quarter worth approximately $72,000. Renaissance Technologies LLC grew its stake 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 acquiring an additional 22,934 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Kandi Technologies Group during the fourth quarter valued at approximately $91,000. Institutional investors and hedge funds own 3.66% of the company's stock.

Kandi Technologies Group Company Profile

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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