Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Declines By 44.7%

Highway Holdings Limited (NASDAQ:HIHO) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 27,003 shares, a drop of 44.7% from the April 15th total of 48,790 shares. Based on an average daily trading volume, of 15,050 shares, the short-interest ratio is presently 1.8 days. Currently, 0.9% of the company’s shares are sold short.

Highway Stock Performance

Shares of NASDAQ HIHO traded up $0.00 during midday trading on Friday, reaching $0.77. The stock had a trading volume of 2,424 shares, compared to its average volume of 13,423. The firm has a market cap of $3.56 million, a price-to-earnings ratio of -4.83 and a beta of 0.54. Highway has a twelve month low of $0.74 and a twelve month high of $2.21. The company’s 50 day moving average price is $0.82 and its 200 day moving average price is $1.05.

Highway (NASDAQ:HIHO) last issued its quarterly earnings results on Monday, March 2nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $1.15 million during the quarter. Highway had a negative return on equity of 12.30% and a negative net margin of 13.84%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC bought a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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. 13.19% of the stock is currently owned by hedge funds and other institutional investors.

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.