Zacks Investment Research Upgrades Uxin (UXIN) to Hold

Uxin (NASDAQ:UXIN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Uxin Limited provides internet based services. The Company offers car e-commerce platform which enables to consumers and dealers to buy and sell new and used cars. Uxin Limited is based in Beijing, China. “

UXIN has been the subject of several other research reports. ValuEngine raised shares of Uxin from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. increased their price objective on shares of Uxin from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, Credit Suisse Group initiated coverage on shares of Uxin in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $7.70 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $7.50.

UXIN stock traded down $0.03 on Thursday, hitting $2.35. 22,198 shares of the company were exchanged, compared to its average volume of 6,570,781. Uxin has a twelve month low of $1.41 and a twelve month high of $10.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market capitalization of $695.90 million and a price-to-earnings ratio of -0.69.

Uxin (NASDAQ:UXIN) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $165.62 million for the quarter. As a group, equities analysts forecast that Uxin will post -0.28 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in UXIN. Stevens Capital Management LP purchased a new position in shares of Uxin in the first quarter valued at $67,000. Hsbc Holdings PLC purchased a new position in shares of Uxin in the fourth quarter valued at $68,000. Two Sigma Securities LLC purchased a new position in shares of Uxin in the fourth quarter valued at $69,000. Two Sigma Investments LP purchased a new position in shares of Uxin in the fourth quarter valued at $72,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Uxin in the fourth quarter valued at $87,000. Institutional investors and hedge funds own 41.68% of the company’s stock.

About Uxin

Uxin Limited, through its subsidiaries, operates an used car e-commerce platform in China. It operates Uxin Used Car, an application that provides consumers with customized car recommendation, financing, title transfer, delivery, insurance referral, warranty and other related services; and Uxin Auction, an application that helps business buyers to source vehicles through online auctions.

Featured Story: How is the LIBOR rate calculated?

Get a free copy of the Zacks research report on Uxin (UXIN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Uxin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uxin and related companies with MarketBeat.com's FREE daily email newsletter.