Kandi Technologies Group (NASDAQ:KNDI) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.00 and traded as low as $1.62. Kandi Technologies Group shares last traded at $1.63, with a volume of 303,766 shares trading hands.

Wall Street Analysts Forecast Growth

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

Kandi Technologies Group Price Performance

The business has a 50-day simple moving average of $1.75 and a two-hundred day simple moving average of $2.00. The company has a quick ratio of 3.26, a current ratio of 4.11 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $152.88 million, a price-to-earnings ratio of -175.00 and a beta of 1.35.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Kandi Technologies Group stock. Empowered Funds LLC grew its position in Kandi Technologies Group, Inc. (NASDAQ:KNDI) by 8.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,449 shares of the company’s stock after buying an additional 6,125 shares during the quarter. Empowered Funds LLC owned approximately 0.09% of Kandi Technologies Group worth $175,000 at the end of the most recent quarter. 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.