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

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

Wall Street Analyst Weigh In

Several research analysts recently commented on KXIN shares. 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 an average rating of “Sell”.

Kaixin Trading Down 2.2%

Shares of NASDAQ:KXIN traded down $0.13 on Friday, hitting $5.88. 7,480 shares of the company’s stock were exchanged, compared to its average volume of 439,034. The firm’s 50-day moving average is $5.76 and its 200 day moving average is $56.28. Kaixin has a 1-year low of $4.10 and a 1-year high of $832.50.

Kaixin (NASDAQ:KXIN) last released its quarterly earnings data on Tuesday, April 7th. The company reported $181.40 earnings per share (EPS) for the quarter. The business had revenue of $0.02 million for 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.