Kaixin Holdings (NASDAQ:KXIN) Short Interest Down 35.9% in May

Kaixin Holdings (NASDAQ:KXIN) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 43,761 shares, a drop of 35.9% from the May 14th total of 68,227 shares. Currently, 364.7% of the company’s stock are short sold. Based on an average daily volume of 214,852 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

A number of research analysts have recently commented on KXIN shares. Wall Street Zen upgraded Kaixin from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Kaixin Trading Up 0.9%

Shares of KXIN traded up $0.04 on Wednesday, reaching $4.74. The stock had a trading volume of 26,793 shares, compared to its average volume of 153,357. The company has a 50-day simple moving average of $5.73 and a 200-day simple moving average of $37.53. Kaixin has a 12-month low of $4.10 and a 12-month high of $832.50.

Kaixin (NASDAQ:KXIN) last announced its quarterly earnings data on Tuesday, April 7th. The company reported $181.40 earnings per share (EPS) for the quarter. The company had revenue of $0.02 million for the quarter.

About Kaixin

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.