Highway (NASDAQ:HIHO) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Highway Holdings Limited (NASDAQ:HIHO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.87 and traded as high as $0.97. Highway shares last traded at $0.97, with a volume of 55,926 shares traded.

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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Highway Stock Up 0.9%

The business has a 50-day moving average of $0.86 and a 200 day moving average of $0.87. The company has a market capitalization of $5.05 million, a PE ratio of -3.41 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.23 and a quick ratio of 1.78.

Highway Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Monday, August 10th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 10th.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake 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 the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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. 13.19% of the stock is currently owned by institutional investors and hedge funds.

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.