Phoenix Motor (NASDAQ:PEV) Trading Down 3.5%

Phoenix Motor Inc. (NASDAQ:PEV) shares dropped 3.5% during mid-day trading on Thursday . The company traded as low as $0.60 and last traded at $0.61. Approximately 44,208 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 47,674 shares. The stock had previously closed at $0.63.

Phoenix Motor Trading Down 3.5 %

The business has a fifty day moving average of $0.85 and a 200-day moving average of $1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market capitalization of $20.99 million, a P/E ratio of -0.62 and a beta of 1.29.

Phoenix Motor (NASDAQ:PEV) last issued its earnings results on Monday, April 15th. The company reported ($0.33) earnings per share (EPS) for the quarter. Phoenix Motor had a negative return on equity of 335.82% and a negative net margin of 265.05%. The firm had revenue of ($0.11) million during the quarter.

Institutional Investors Weigh In On Phoenix Motor

An institutional investor recently bought a new position in Phoenix Motor stock. Harvest Fund Management Co. Ltd purchased a new stake in Phoenix Motor Inc. (NASDAQ:PEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 49,030 shares of the company’s stock, valued at approximately $51,000. Harvest Fund Management Co. Ltd owned about 0.23% of Phoenix Motor at the end of the most recent quarter. 8.90% of the stock is owned by hedge funds and other institutional investors.

About Phoenix Motor

Phoenix Motor Inc designs, develops, manufactures, assembles, and integrates electric drive systems, and light and medium duty electric vehicles in the United States and internationally. It provides chargers, electric forklifts, shuttle buses, Type A school buses, utility and service trucks, flatbed and cargo trucks, and walk-in vans.