Highway Holdings Limited (NASDAQ:HIHO) Short Interest Update

Highway Holdings Limited (NASDAQ:HIHO) was the target of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 24,955 shares, a growth of 261.4% from the January 29th total of 6,906 shares. Based on an average daily volume of 55,153 shares, the short-interest ratio is currently 0.5 days. Currently, 0.8% of the company’s shares are sold short. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 55,153 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Highway

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC bought a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to its most recent 13F filing with the Securities & 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 approximately 0.52% of Highway as of its most recent SEC filing. Institutional investors own 13.19% of the company’s stock.

Highway Stock Performance

HIHO stock opened at $0.91 on Friday. The stock’s 50 day simple moving average is $1.11 and its 200 day simple moving average is $1.37. The company has a market cap of $4.19 million, a P/E ratio of -7.58 and a beta of 0.35. Highway has a fifty-two week low of $0.77 and a fifty-two week high of $2.21.

Highway (NASDAQ:HIHO) last posted its quarterly earnings results on Monday, December 15th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter. Highway had a negative net margin of 8.71% and a negative return on equity of 8.57%. The business had revenue of $1.18 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Highway in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About Highway

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.