Kaixin Holdings (NASDAQ:KXIN) Shares Shorted: Short Interest Down 76.1% in September

Kaixin Holdings (NASDAQ:KXIN) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 93,502 shares, a decline of 76.1% from the August 31st total of 391,562 shares. Currently, 7.5% of the company’s shares are sold short. Based on an average daily volume of 126,638 shares, the days-to-cover ratio is currently 0.7 days.

Kaixin Stock Down 6.0%

NASDAQ:KXIN traded down $0.09 during midday trading on Friday, hitting $1.42. The stock had a trading volume of 123,436 shares, compared to its average volume of 5,368,366. Kaixin has a one year low of $0.54 and a one year high of $832.50. The stock has a 50-day moving average of $3.57 and a 200 day moving average of $4.75.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KXIN. Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a report on Friday, July 17th. Wall Street Zen upgraded shares of Kaixin from a “strong sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Kaixin has a consensus rating of “Sell”.

About Kaixin

Kaixin (NASDAQ: KXIN), formerly known as Kaixin Auto Holdings, is an automotive company based in China. Historically, its business focused on the retail and distribution of used automobiles, supported by related services such as vehicle financing, insurance facilitation and after-sales services.

The company has also pursued opportunities in the new-energy vehicle sector, including the development and commercialization of electric-vehicle products and related technologies. Its business activities have primarily targeted the Chinese automotive market, although its strategic initiatives have included partnerships and potential expansion beyond China.

Kaixin has undergone changes in its business strategy and corporate structure over time as it has sought to transition from a used-car retailer toward a broader automotive and new-energy vehicle company.