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

Key Points

• Kandi Technologies Group's stock fell below its 200-day moving average, indicating a potential downward trend, with the stock trading at $1.29 after hitting a low of $1.22.
• Wall Street analysts have recently downgraded the stock to a "sell" rating, reflecting a negative outlook, with the current average rating being "Sell" from MarketBeat.com.
• Connor Clark & Lunn Investment Management Ltd. significantly increased its position in Kandi Technologies Group by 83.8%, suggesting a tactical investment despite analyst concerns.

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.24 and traded as low as $1.22. Kandi Technologies Group shares last traded at $1.29, with a volume of 308,316 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Kandi Technologies Group from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Kandi Technologies Group in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Kandi Technologies Group currently has an average rating of "Sell".

Kandi Technologies Group Stock Up 5.3%

The firm has a market capitalization of $109.84 million, a price-to-earnings ratio of -2.22 and a beta of 0.76. The stock's 50 day moving average price is $1.33 and its two-hundred day moving average price is $1.24.

Institutional Investors Weigh In On Kandi Technologies Group

An institutional investor recently raised its position in Kandi Technologies Group stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Kandi Technologies Group, Inc. (NASDAQ:KNDI - Free Report) by 83.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,640 shares of the company's stock after purchasing an additional 13,059 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Kandi Technologies Group were worth $41,000 at the end of the most recent reporting period. 3.66% of the stock is 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.

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