Kandi Technologies Group (NASDAQ:KNDI) Stock Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Kandi Technologies Group, Inc. (NASDAQ:KNDI - Get Free Report) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.21 and traded as low as $1.10. Kandi Technologies Group shares last traded at $1.11, with a volume of 62,275 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 research note on Friday, June 6th.

Kandi Technologies Group Trading Down 1.8%

The stock has a market cap of $94.88 million, a price-to-earnings ratio of -1.91 and a beta of 0.97. The firm's 50 day moving average is $1.14 and its two-hundred day moving average is $1.21. The company has a quick ratio of 2.52, a current ratio of 2.95 and a debt-to-equity ratio of 0.02.

Kandi Technologies Group (NASDAQ:KNDI - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.26). Kandi Technologies Group had a negative net margin of 39.45% and a negative return on equity of 6.82%. The firm had revenue of $41.00 million during the quarter, compared to analyst estimates of $41.00 million.

Institutional Investors Weigh In On Kandi Technologies Group

Several large investors have recently made changes to their positions in KNDI. XTX Topco Ltd acquired a new stake in shares of Kandi Technologies Group in the fourth quarter valued at approximately $91,000. Marshall Wace LLP acquired a new stake in shares of Kandi Technologies Group in the fourth quarter valued at approximately $72,000. Renaissance Technologies LLC increased its stake in shares of Kandi Technologies Group by 48.8% in the fourth quarter. Renaissance Technologies LLC now owns 69,934 shares of the company's stock valued at $84,000 after purchasing an additional 22,934 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Kandi Technologies Group by 83.8% in the first 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 period. Institutional investors and hedge funds own 3.66% of the company's stock.

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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