Kaixin Holdings (NASDAQ:KXIN) Shares Shorted: Short Interest Up 250.2% in October

Kaixin Holdings (NASDAQ:KXIN) was the target of a significant increase in short interest in 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. Approximately 19.3% of the shares of the company are sold short. Based on an average daily trading volume, of 906,270 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KXIN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kaixin in a report on Thursday, October 15th. Wall Street Zen upgraded shares of Kaixin from a “sell” rating to a “hold” rating in a research note on Monday, October 12th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Kaixin Stock Performance

Shares of NASDAQ:KXIN traded up $0.18 during trading on Friday, hitting $2.80. 533,495 shares of the company’s stock were exchanged, compared to its average volume of 759,018. Kaixin has a 52-week low of $0.54 and a 52-week high of $337.45. The business’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $7.69.

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