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

Key Points

• Kandi Technologies shares fell below their 200-day moving average of $0.97, trading as low as $0.70 and last at $0.7290 on a volume of 451,103 shares.
• Analyst sentiment is negative — Weiss Ratings reiterated a "Sell" rating and the stock's consensus rating on MarketBeat is currently "Sell."
• The company has a market capitalization of $62.31 million and a negative P/E of -2.43, with just 3.66% institutional ownership; Kandi is a China-based maker of small NEVs, battery packs and charging/battery-swap infrastructure.

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report)'s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.97 and traded as low as $0.70. Kandi Technologies Group shares last traded at $0.7290, with a volume of 451,103 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Kandi Technologies Group in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell".

Kandi Technologies Group Stock Up 0.3%

The stock has a market capitalization of $62.31 million, a P/E ratio of -2.43 and a beta of 0.64. The firm has a 50-day moving average of $0.90 and a 200 day moving average of $0.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in Kandi Technologies Group by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 145,840 shares of the company's stock worth $115,000 after purchasing an additional 12,740 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at $37,000. Citadel Advisors LLC boosted its stake in shares of Kandi Technologies Group by 72.0% in the 3rd quarter. Citadel Advisors LLC now owns 127,787 shares of the company's stock valued at $155,000 after purchasing an additional 53,496 shares in the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at $80,000. 3.66% of the stock is owned by institutional investors.

Kandi Technologies Group Company Profile

Kandi Technologies Group, Inc is a China-based manufacturer focused on the design, development and production of electric vehicles (EVs), batteries and charging infrastructure. The company offers a range of small, neighborhood electric vehicles (NEVs) under its own brand and supplies key components—including battery packs and electric drive systems—to automotive partners. In addition to vehicle manufacturing, Kandi is engaged in the development and operation of charging stations and battery-swap facilities intended to support EV adoption in urban environments.

Founded in 2002 and headquartered in Jinhua, Zhejiang Province, Kandi began its operations producing all-terrain vehicles (ATVs) and recreational off-road products.

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