Kaixin Holdings (NASDAQ:KXIN) Sees Large Increase in Short Interest

Kaixin Holdings (NASDAQ:KXIN) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 68,227 shares, an increase of 183.5% from the April 30th total of 24,067 shares. Based on an average trading volume of 618,273 shares, the short-interest ratio is currently 0.1 days. Currently, 568.6% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms have issued reports on KXIN. Weiss Ratings reissued a “sell (e+)” rating on shares of Kaixin in a research note on Tuesday, April 21st. Wall Street Zen raised Kaixin from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Kaixin Stock Performance

Shares of Kaixin stock traded down $0.13 during trading on Friday, reaching $5.88. The stock had a trading volume of 7,480 shares, compared to its average volume of 439,034. The stock has a fifty day moving average price of $5.76 and a two-hundred day moving average price of $56.28. Kaixin has a 52 week low of $4.10 and a 52 week high of $832.50.

Kaixin (NASDAQ:KXIN) last issued its quarterly earnings results on Tuesday, April 7th. The company reported $181.40 EPS for the quarter. The firm had revenue of $0.02 million during the quarter.

About Kaixin

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.