Kaixin (NASDAQ:KXIN) Posts Quarterly Earnings Results

Kaixin (NASDAQ:KXIN) announced its earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $0.33 million during the quarter.

Kaixin Stock Up 9.7%

Shares of Kaixin stock traded up $0.10 during trading hours on Wednesday, reaching $1.13. 1,153,235 shares of the company were exchanged, compared to its average volume of 244,276. Kaixin has a 1 year low of $0.54 and a 1 year high of $832.50. The stock’s fifty day moving average is $4.14 and its 200 day moving average is $5.04.

Analyst Ratings Changes

A number of equities analysts recently commented on KXIN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Kaixin in a report on Friday, July 17th. Wall Street Zen lowered shares of Kaixin to a “strong sell” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Kaixin has a consensus rating of “Sell”.

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.