Kaixin Holdings (NASDAQ:KXIN) Sees Significant Decline in Short Interest

Kaixin Holdings (NASDAQ:KXINGet Free Report) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 26,973 shares, a drop of 14.7% from the March 31st total of 31,608 shares. Approximately 224.8% of the shares of the company are sold short. Based on an average trading volume of 20,781 shares, the short-interest ratio is presently 1.3 days.

Kaixin Stock Performance

Shares of KXIN traded down $1.05 during mid-day trading on Friday, reaching $4.53. 11,801 shares of the company’s stock were exchanged, compared to its average volume of 72,744. The business’s fifty day simple moving average is $6.15 and its 200-day simple moving average is $118.61. Kaixin has a 52-week low of $4.10 and a 52-week high of $832.50.

Kaixin (NASDAQ:KXINGet Free Report) last issued its quarterly earnings results on Tuesday, April 7th. The company reported $181.40 earnings per share for the quarter. The company had revenue of $0.02 million for the quarter.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KXIN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Kaixin from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Check Out Our Latest Stock Analysis on KXIN

About Kaixin

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Kaixin Auto Holdings, Inc (NASDAQ: KXIN) is a China-based integrated automotive services company primarily engaged in the distribution and financing of passenger vehicles. The company’s core business lines include new car sales through a network of franchised dealerships, used-vehicle trade-ins and resale, as well as a full suite of after-sales services such as maintenance, repair and parts supply. By combining vehicle distribution with complementary services, Kaixin aims to capture value across the entire ownership lifecycle.

Founded in 2014 and headquartered in Chengdu, Sichuan Province, Kaixin has expanded its footprint across central and western regions of China.

Further Reading

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