Highway (NASDAQ:HIHO) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Highway Holdings Limited (NASDAQ:HIHO) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.79 and traded as high as $0.9225. Highway shares last traded at $0.8311, with a volume of 93,276 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Highway from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Highway Price Performance

The company has a 50 day simple moving average of $0.79 and a 200-day simple moving average of $0.91. The stock has a market cap of $3.82 million, a P/E ratio of -5.19 and a beta of 0.49.

Institutional Trading of Highway

A hedge fund recently bought a new position in Highway stock. Jane Street Group LLC purchased a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned about 0.52% of Highway at the end of the most recent reporting period. Institutional investors own 13.19% of the company’s stock.

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.