Uxin (NASDAQ:UXIN) Upgraded to “Buy” at Zacks Investment Research

Uxin (NASDAQ:UXIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm currently has a $2.75 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.58% from the company’s previous close.

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. “

Separately, ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Uxin has an average rating of “Buy” and an average price target of $6.94.

Shares of NASDAQ UXIN opened at $2.40 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 1.44. The firm has a market capitalization of $695.90 million and a P/E ratio of -0.71. The business has a 50-day simple moving average of $2.21. Uxin has a fifty-two week low of $1.41 and a fifty-two week high of $9.87.

Uxin (NASDAQ:UXIN) last issued its quarterly earnings results on Monday, June 10th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.59). The business had revenue of $1 billion during the quarter. Uxin had a negative return on equity of 97.42% and a negative net margin of 26.17%. Uxin’s quarterly revenue was up 54.6% on a year-over-year basis. On average, analysts expect that Uxin will post -0.24 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Myriad Asset Management Ltd. acquired a new stake in Uxin in the first quarter worth about $20,893,000. FMR LLC acquired a new stake in shares of Uxin during the first quarter worth about $9,445,000. Baillie Gifford & Co. lifted its holdings in shares of Uxin by 42.3% during the first quarter. Baillie Gifford & Co. now owns 1,776,100 shares of the company’s stock worth $6,732,000 after purchasing an additional 527,700 shares during the period. Pictet Asset Management Ltd. acquired a new stake in shares of Uxin during the first quarter worth about $6,206,000. Finally, Greenwoods Asset Management Ltd acquired a new stake in shares of Uxin during the first quarter worth about $2,752,000. 32.12% of the stock is owned by institutional investors and hedge funds.

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.

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