Kaixin Auto (NASDAQ:KXIN) Upgraded at ValuEngine

ValuEngine upgraded shares of Kaixin Auto (NASDAQ:KXIN) from a hold rating to a buy rating in a report published on Tuesday morning, ValuEngine reports.

Shares of KXIN traded down $0.03 during trading hours on Tuesday, hitting $1.92. The company had a trading volume of 909 shares, compared to its average volume of 27,020. Kaixin Auto has a one year low of $1.06 and a one year high of $11.00. The business’s fifty day moving average price is $1.72.

In related news, Director Sing Wang purchased 76,983 shares of Kaixin Auto stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average cost of $2.15 per share, with a total value of $165,513.45. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders bought 105,651 shares of company stock valued at $228,583. Corporate insiders own 20.78% of the company’s stock.

A hedge fund recently bought a new stake in Kaixin Auto stock. Polar Asset Management Partners Inc. purchased a new position in Kaixin Auto Holdings (NASDAQ:KXIN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 121,189 shares of the company’s stock, valued at approximately $267,000. Polar Asset Management Partners Inc. owned approximately 0.20% of Kaixin Auto at the end of the most recent quarter. Hedge funds and other institutional investors own 1.38% of the company’s stock.

About Kaixin Auto

Kaixin Auto Holdings operates as a used car dealership in the People's Republic of China. As of December 31, 2018, the company had 14 dealerships. It also provides financing channels to its customers through its partnership with financial institutions; and value-added services to its customers, including insurance, extended warranties, and after-sales services The company was founded in 2015 and is based in Beijing, the People's Republic of China.

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