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

Kaixin Holdings (NASDAQ:KXIN) was the recipient of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 240,303 shares, an increase of 250.2% from the October 15th total of 68,615 shares. Currently, 19.3% of the shares of the company are short sold. Based on an average trading volume of 906,270 shares, the days-to-cover ratio is currently 0.3 days.

Kaixin Stock Performance

Kaixin stock traded down $0.08 during midday trading on Thursday, reaching $2.62. 1,732,205 shares of the stock were exchanged, compared to its average volume of 760,591. The company’s fifty day moving average is $1.66 and its 200-day moving average is $8.67. Kaixin has a 52 week low of $0.54 and a 52 week high of $576.00.

Kaixin (NASDAQ:KXIN) last announced its quarterly earnings results on Wednesday, September 16th. The company reported ($0.10) EPS for the quarter. The business had revenue of $0.33 million for the quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Kaixin in a research note on Thursday, October 15th. Wall Street Zen upgraded Kaixin from a “sell” rating to a “hold” rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

About Kaixin

Kaixin Holdings, formerly known as Kaixin Auto Holdings, is a China-based automotive company focused on new energy vehicles and automobile retailing. Its activities have included the sale of used vehicles, new vehicle sales, auto financing and leasing, and related dealership services. The company has also pursued a strategic expansion into new energy vehicle manufacturing through acquisitions and partnerships involving vehicle production and technology businesses. Its product focus includes electric passenger vehicles and other new energy transportation solutions, although the scope of its operations may change as its business develops.