Kandi Technologies Group (NASDAQ:KNDI) Stock Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• Kandi Technologies Group fell below its 200-day moving average on Monday, with shares trading as low as $0.6319 before last changing hands at $0.7310.
• The company’s latest earnings report was weak, as it posted a loss of $0.57 per share versus expectations for a $0.03 profit and revenue of $25.57 million versus the $64.30 million estimate.
• Sentiment remains negative: Weiss Ratings cut the stock to “sell (e+)”, and MarketBeat notes the overall analyst consensus is currently “Sell”.

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.84 and traded as low as $0.6319. Kandi Technologies Group shares last traded at $0.7310, with a volume of 13,226,476 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Kandi Technologies Group from a "sell (d)" rating to a "sell (e+)" rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Kandi Technologies Group presently has a consensus rating of "Sell".

Kandi Technologies Group Stock Performance

The firm has a market capitalization of $73.41 million, a P/E ratio of -2.44 and a beta of 0.60. The firm has a 50 day moving average price of $0.71 and a two-hundred day moving average price of $0.84.

Kandi Technologies Group (NASDAQ:KNDI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.60). The company had revenue of $25.57 million during the quarter, compared to analyst estimates of $64.30 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Kandi Technologies Group by 9.6% during the 4th quarter. Renaissance Technologies LLC now owns 145,840 shares of the company's stock worth $115,000 after acquiring an additional 12,740 shares during the period. Squarepoint Ops LLC acquired a new position in Kandi Technologies Group in the 3rd quarter valued at approximately $37,000. Citadel Advisors LLC increased its stake in 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 buying an additional 53,496 shares during the period. Finally, Quinn Opportunity Partners LLC purchased a new stake in Kandi Technologies Group in the 3rd quarter worth approximately $80,000. 3.66% of the stock is owned by hedge funds and other institutional investors.

About Kandi Technologies Group

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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