Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below 200 Day Moving Average – Here’s Why

Kandi Technologies Group, Inc. (NASDAQ:KNDI) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.32 and traded as low as $1.31. Kandi Technologies Group shares last traded at $1.42, with a volume of 142,811 shares.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Kandi Technologies Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th.

Kandi Technologies Group Stock Performance

The firm’s 50 day moving average price is $1.34 and its two-hundred day moving average price is $1.32. The firm has a market cap of $122.22 million, a PE ratio of -17.75 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.55 and a current ratio of 3.26.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in shares of Kandi Technologies Group by 48.8% in the 4th 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 last quarter. Atria Wealth Solutions Inc. acquired a new position in Kandi Technologies Group in the fourth quarter valued at about $36,000. Virtu Financial LLC purchased a new position in Kandi Technologies Group during the third quarter worth about $78,000. Marshall Wace LLP acquired a new stake in shares of Kandi Technologies Group during the fourth quarter valued at about $72,000. Finally, XTX Topco Ltd purchased a new stake in shares of Kandi Technologies Group in the 4th quarter valued at approximately $91,000. 3.66% of the stock is currently owned by hedge funds and other institutional investors.

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.