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

Kaixin Holdings (NASDAQ:KXIN) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 26,782 shares, a drop of 89.9% from the February 26th total of 265,031 shares. Currently, 223.2% of the company’s stock are sold short. Based on an average daily trading volume, of 32,331 shares, the days-to-cover ratio is currently 0.8 days.

Kaixin Stock Down 5.8%

KXIN stock traded down $0.36 on Thursday, reaching $5.90. 14,592 shares of the company traded hands, compared to its average volume of 98,236. The firm has a fifty day simple moving average of $45.31 and a 200-day simple moving average of $176.40. Kaixin has a one year low of $4.10 and a one year high of $832.50.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Kaixin from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Kaixin in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Kaixin currently has a consensus rating of “Sell”.

Kaixin Company Profile

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.