Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?
by Sarita Garza · The Markets DailyKandi Technologies Group, Inc. (NASDAQ:KNDI – Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.17 and traded as low as $0.8330. Kandi Technologies Group shares last traded at $0.8461, with a volume of 100,039 shares trading hands.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (d)” rating on shares of Kandi Technologies Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.
View Our Latest Stock Report on KNDI
Kandi Technologies Group Stock Performance
The business’s 50 day moving average price is $1.02 and its 200-day moving average price is $1.17. The firm has a market cap of $72.32 million, a price-to-earnings ratio of -1.46 and a beta of 0.36.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in shares of Kandi Technologies Group in the 3rd quarter valued at approximately $37,000. Citadel Advisors LLC boosted its holdings in Kandi Technologies Group by 72.0% in the third quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock worth $155,000 after purchasing an additional 53,496 shares during the period. Finally, Quinn Opportunity Partners LLC bought a new stake in Kandi Technologies Group during the third quarter valued at $80,000. Institutional investors and hedge funds own 3.66% of the company’s stock.
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.