Short Interest in Kaixin Holdings (NASDAQ:KXIN) Rises By 67.6%

Kaixin Holdings (NASDAQ:KXIN) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 28,377 shares, an increase of 67.6% from the July 15th total of 16,931 shares. Based on an average daily volume of 74,137 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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, Based on data from MarketBeat.com, Kaixin presently has an average rating of “Sell”.

Kaixin Stock Up 6.1%

KXIN stock traded up $0.31 during trading on Monday, reaching $5.41. The company had a trading volume of 679,046 shares, compared to its average volume of 137,767. The firm has a 50-day simple moving average of $4.93 and a 200-day simple moving average of $10.11. Kaixin has a twelve month low of $3.90 and a twelve month high of $832.50.

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.