Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Grows By 281.8%

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 85,991 shares, a growth of 281.8% from the February 26th total of 22,521 shares. Based on an average trading volume of 155,382 shares, the days-to-cover ratio is presently 0.6 days. Currently, 2.8% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 company has an average rating of “Sell”.

Institutional Inflows and Outflows

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 the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC). 13.19% of the stock is owned by institutional investors.

Highway Stock Down 3.8%

HIHO traded down $0.03 during trading on Thursday, hitting $0.79. 19,837 shares of the stock were exchanged, compared to its average volume of 75,830. Highway has a 1-year low of $0.77 and a 1-year high of $2.21. The stock has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $1.26. The firm has a market capitalization of $3.63 million, a P/E ratio of -4.94 and a beta of 0.37.

Highway (NASDAQ:HIHO) last posted its quarterly earnings data on Thursday, March 5th. The industrial products company reported ($0.02) earnings per share for the quarter. The firm had revenue of $1.15 million during the quarter. Highway had a negative net margin of 13.84% and a negative return on equity of 12.30%.

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.