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

Kaixin Holdings (NASDAQ:KXIN) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 50,208 shares, a growth of 76.9% from the July 30th total of 28,377 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily trading volume, of 151,841 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Kaixin Stock Performance

Shares of Kaixin stock opened at $1.43 on Monday. Kaixin has a 52 week low of $0.54 and a 52 week high of $832.50. The firm’s 50 day moving average is $4.87 and its two-hundred day moving average is $5.77.

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.