With the current price of $1.11, the stock of Uxin Limited (NASDAQ:UXIN) concluded the trading session seeing its price drop by -0.04 points or at a loss of -3.48% compared to its previous day’s closing price of $1.15. About 1.293 million shares of the stock changed hands on the day. The trading volume of UXIN’s shares during the past session compares with the stock’s average daily trading volume of 1.132 million shares. On the other hand, a float of 223 million shares and a weekly performance of -7.5% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for UXIN’s share which suggests that the stock, price of which is currently buoying between $1.08 and $1.152, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $¥32.14 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Uxin Limited’s stock is trending upward as short interest in UXIN shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the UXIN is currently comprised of 1.09% of the float as the volume of shorted shares inclined by 416568 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 2.844 million shares from the previous figure of 2.428 million shares. Stock’s average intraday volume is now standing at 734036 shares which indicate that the days to cover the shorts are nearly 3.874815.
After concluding the day’s trading, price of Uxin Limited (NASDAQ:UXIN) is down -$0.09 over the week and it is -$0.13 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $3.8 that was attained on 11/08/19.
The stock has traded as low as $1.08 in past 52-week, and its current price is 0% below to that 52-week low price mark recorded on 08/26/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 34.52 as 14-days RSI of Uxin Limited. This means that the UXIN is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 26.94%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $1.148 for the UXIN’s share while placing it at a 2nd resistance point of $1.186 to be settled at. But if the stock takes a plunge lower than the 1st support price of $1.076 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.042.
MACD oscillator is showing a reading of -0.0356 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
JP Morgan lowered its recommendation for UXIN stock from Overweight to Neutral in a review note dated October 23. The stock gets a Outperform recommendation from analysts at Credit Suisse who started covering the stock with a target price of $7.7 in their March 12 note to investors.JP Morgananalysts upgraded their recommendation from Neutral to Overweight on January 10.
The average rating of 2.67 for UXIN is placing the stock in bullish category at the moment. In a poll by Reuters including 3 analysts in it who kept tracking the Uxin Limited, 2 rated the stock as hold. Others were in different opinions for the UXIN. Out of remaining 1 analysts, 1 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that UXIN stock is lagging behind the rear of industry’s average P/S ratio of 44.8. A comparison of Uxin Limited’s trailing 12-months P/E ratio of 0 implies that it is trading above the industry’s average P/E ratio, which currently is 6.2.