Kandi Technologies Group (NASDAQ:KNDI) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

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 traded.

Analysts Set New Price Targets

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

Kandi Technologies Group Price Performance

The company’s 50-day moving average price is $1.34 and its 200-day moving average price is $1.32. The company has a quick ratio of 2.55, a current ratio of 3.26 and a debt-to-equity ratio of 0.02. The firm has a market cap of $122.22 million, a price-to-earnings ratio of -17.75 and a beta of 1.37.

Institutional Investors Weigh In On Kandi Technologies Group

Hedge funds have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. purchased a new stake in shares of Kandi Technologies Group during the fourth quarter worth $36,000. Marshall Wace LLP acquired a new position in Kandi Technologies Group during the 4th quarter worth $72,000. Virtu Financial LLC purchased a new stake in Kandi Technologies Group during the 3rd quarter worth about $78,000. Renaissance Technologies LLC raised its position in 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 in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Kandi Technologies Group in the 4th quarter valued at about $91,000. 3.66% of the stock is currently owned by institutional investors and hedge funds.

About Kandi Technologies Group

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.