Kandi Technologies Group (NASDAQ:KNDI) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.97 and traded as low as $1.47. Kandi Technologies Group shares last traded at $1.47, with a volume of 329,489 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded Kandi Technologies Group from a “sell” rating to a “hold” rating in a research note on Monday, August 19th.

Kandi Technologies Group Trading Down 5.2 %

The stock has a market capitalization of $128.42 million, a PE ratio of 49.00 and a beta of 1.35. The company has a current ratio of 4.11, a quick ratio of 3.26 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $1.73 and a 200-day moving average price of $1.97.

Kandi Technologies Group (NASDAQ:KNDI) last posted its quarterly earnings data on Friday, August 16th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $39.15 million during the quarter. Kandi Technologies Group had a negative net margin of 0.98% and a negative return on equity of 0.31%.

Institutional Investors Weigh In On Kandi Technologies Group

A hedge fund recently raised its stake in Kandi Technologies Group stock. Empowered Funds LLC grew its position in shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,449 shares of the company’s stock after buying an additional 6,125 shares during the period. Empowered Funds LLC owned 0.09% of Kandi Technologies Group worth $175,000 at the end of the most recent reporting period. 3.66% of the stock is currently owned by institutional investors and hedge funds.

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.