Kaixin (NASDAQ:KXIN) Stock Jumps 6.1% – Should You Buy?

Kaixin Holdings (NASDAQ:KXIN) traded up 6.1% on Monday. The company traded as high as $2.1150 and last traded at $2.10. Approximately 770,220 shares were traded during mid-day trading, an increase of 134% from the average daily volume of 329,411 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KXIN shares. Wall Street Zen upgraded Kaixin from a “sell” rating to a “hold” rating in a report on Monday, October 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Kaixin Stock Up 6.1%

The business’s fifty day moving average is $1.74 and its two-hundred day moving average is $14.41.

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

Kaixin Company Profile

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.

Kaixin serves the Chinese automotive market, with operations and business initiatives centered in China.