Highway Holdings Limited (NASDAQ:HIHO) Short Interest Update

Highway Holdings Limited (NASDAQ:HIHO) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 49,823 shares, a drop of 45.3% from the June 15th total of 91,027 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 105,122 shares, the days-to-cover ratio is currently 0.5 days.

Highway Price Performance

Shares of HIHO opened at $0.84 on Wednesday. The business has a 50-day moving average of $0.79 and a 200-day moving average of $0.91. The company has a market capitalization of $3.88 million, a price-to-earnings ratio of -5.27 and a beta of 0.49. Highway has a 1 year low of $0.60 and a 1 year high of $2.21.

Highway (NASDAQ:HIHO) last released its earnings results on Tuesday, July 14th. The industrial products company reported ($0.24) earnings per share for the quarter. Highway had a negative net margin of 13.84% and a negative return on equity of 12.30%. The firm had revenue of $0.93 million for the quarter.

Institutional Investors Weigh In On Highway

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC bought a new stake in Highway Holdings Limited (NASDAQ:HIHO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned 0.52% of Highway as of its most recent SEC filing. Hedge funds and other institutional investors own 13.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Highway from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Highway currently has an average rating of “Sell”.

Highway Company Profile

Highway 33 Acquisition Corp. (NASDAQ: HIHO) is a special purpose acquisition company formed to raise capital through an initial public offering for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase or similar business combination with one or more businesses. As a blank‐check vehicle, the company does not have commercial operations of its own but instead seeks to partner with an established private company to bring it public through a business combination.

Since completing its initial public offering in 2021, the company has focused on identifying target businesses in growth‐oriented industries, including technology, consumer products and specialty manufacturing.