Short Interest in Kaixin Holdings (NASDAQ:KXIN) Decreases By 89.9%

Kaixin Holdings (NASDAQ:KXINGet Free Report) saw a significant decrease in short interest in March. As of March 13th, there was short interest totaling 26,782 shares, a decrease of 89.9% from the February 26th total of 265,031 shares. Based on an average daily volume of 32,331 shares, the days-to-cover ratio is presently 0.8 days. Currently, 223.2% of the shares of the company are sold short. Currently, 223.2% of the shares of the company are sold short. Based on an average daily volume of 32,331 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KXIN. Wall Street Zen cut shares of Kaixin from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Check Out Our Latest Report on Kaixin

Kaixin Stock Up 3.6%

Shares of KXIN stock traded up $0.20 during mid-day trading on Tuesday, hitting $5.80. 21,234 shares of the stock traded hands, compared to its average volume of 32,534. Kaixin has a twelve month low of $4.10 and a twelve month high of $832.50. The company’s 50-day simple moving average is $48.01 and its 200-day simple moving average is $177.60.

Kaixin Company Profile

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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.

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