Kandi Technologies Group (NASDAQ:KNDI) Stock Price Passes Below 200 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 traded.

Wall Street Analysts Forecast Growth

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

Kandi Technologies Group Stock Performance

The company has a current ratio of 2.95, a quick ratio of 2.52 and a debt-to-equity ratio of 0.02. The business's 50-day simple moving average is $1.15 and its 200-day simple moving average is $1.23.

Institutional Trading of Kandi Technologies Group

Several hedge funds have recently bought and sold shares of KNDI. XTX Topco Ltd bought a new position in shares of Kandi Technologies Group during the 4th quarter worth approximately $91,000. Renaissance Technologies LLC grew its stake in shares of Kandi Technologies Group by 48.8% during the 4th quarter. Renaissance Technologies LLC now owns 69,934 shares of the company's stock worth $84,000 after acquiring an additional 22,934 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Kandi Technologies Group during the 4th quarter worth approximately $72,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Kandi Technologies Group by 83.8% during the 1st 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. 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.