Kandi Technologies Group (NASDAQ:KNDI) Stock Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• Kandi Technologies Group's stock has fallen below its 200-day moving average of $1.23, trading as low as $1.11 recently.
• Analysts have dropped Kandi Technologies Group's rating from "hold" to "sell," reflecting negative sentiments about the company's performance.
• Institutional investors have recently increased their holdings in Kandi Technologies, with Renaissance Technologies LLC boosting its position by 48.8% in the last quarter.

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.23 and traded as low as $1.11. Kandi Technologies Group shares last traded at $1.14, with a volume of 74,817 shares changing hands.

Wall Street Analyst Weigh In

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

Kandi Technologies Group Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.52 and a current ratio of 2.95. The business's 50 day simple moving average is $1.15 and its 200-day simple moving average is $1.23. The stock has a market capitalization of $112.83 million, a price-to-earnings ratio of -2.28 and a beta of 0.74.

Institutional Investors Weigh In On Kandi Technologies Group

Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Kandi Technologies Group by 83.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,640 shares of the company's stock valued at $41,000 after purchasing an additional 13,059 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Kandi Technologies Group in the 4th quarter valued at about $72,000. Renaissance Technologies LLC raised its holdings in Kandi Technologies Group by 48.8% in the fourth quarter. Renaissance Technologies LLC now owns 69,934 shares of the company's stock worth $84,000 after purchasing an additional 22,934 shares during the period. Finally, XTX Topco Ltd bought a new stake in Kandi Technologies Group during the fourth quarter worth $91,000. 3.66% of the stock is currently owned by institutional investors and hedge funds.

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.