Kaixin (NASDAQ:KXIN) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Kaixin (NASDAQ:KXIN) from a hold rating to a sell rating in a report issued on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Kaixin Stock Performance

Shares of KXIN stock opened at $1.43 on Friday. The stock’s 50-day moving average price is $3.00 and its 200 day moving average price is $4.56. Kaixin has a 52-week low of $0.54 and a 52-week high of $832.50.

Kaixin (NASDAQ:KXIN) last posted its quarterly earnings data on Wednesday, September 16th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $0.33 million during the quarter.

About Kaixin

Kaixin (NASDAQ: KXIN), formerly known as Kaixin Auto Holdings, is an automotive company based in China. Historically, its business focused on the retail and distribution of used automobiles, supported by related services such as vehicle financing, insurance facilitation and after-sales services.

The company has also pursued opportunities in the new-energy vehicle sector, including the development and commercialization of electric-vehicle products and related technologies. Its business activities have primarily targeted the Chinese automotive market, although its strategic initiatives have included partnerships and potential expansion beyond China.

Kaixin has undergone changes in its business strategy and corporate structure over time as it has sought to transition from a used-car retailer toward a broader automotive and new-energy vehicle company.