The stock of Uxin Limited (NASDAQ:UXIN) is now priced at $0.91 and the shares are -0.14 points down or -13.33% lower compared to its previous closing price of $1.05. The stock had 3.237 million contracts set over the past session. UXIN shares’ daily volume is compared to its average trading volume at 1.152 million shares. However, it has a float of 223 million and although its performance was -21.55% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the UXIN share price recently placing at $0.88 to $1.06. However, some brokerage firms have priced the stock below the average, including one that has called $¥32.14.
The shorts are climbing into the Uxin Limited stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the UXIN shares have risen. Short interest in the stock represents just 1.27% of its float, but the volume has raised by 416568. The volume of shorted shares rised to 2.844 million from 2.428 million shares over the last two weeks. The average intraday trading volume has been 734036 shares, which means that days to cover moved to roughly 3.874815.
In the last trading session, Uxin Limited (NASDAQ:UXIN) dropped by -$0.25 over the week and lost -$0.36 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.8. The stock recorded its established 52-week high on 11/08/19.
Since 08/28/20, the stock has traded to a low of $0.88 at -10.78%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Uxin Limited’s two-week RSI is 22.64. This suggests that the stock is overbought at the moment and that UXIN shares’ price movement remains not stable. The stochastic readings are equally revealing at 12.61% meaning the UXIN share price is currently in overbought territory.
The technical chart shows that the UXIN stock will likely settle at between $1.02 and $1.13 per share. However, if the stock dips below $0.84, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.77.
Currently, the stock is trading in the red of MACD, with a reading of -0.1089. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at JP Morgan cut their recommendation for UXIN from Overweight to Neutral in October 23 review. Credit Suisse analysts see the stock as a Outperform with a target price of $7.7 in a flash note released to investors on March 12 initiating covering the stock. JP Morgan seeing the improvements upgraded the stock from Neutral to Overweight on January 10.
The average rating for the UXIN equity is 2.67 and is currently gathering a bullish momentum. Of 3 analysts tracking Uxin Limited polled by Reuters, 2 rated UXIN as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 44.3. Uxin Limited has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 6.2 industry average.