Highway Holdings Limited (NASDAQ:HIHO) Shares Shorted: Short Interest Down 88.8% in September

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 113 shares, a drop of 88.8% from the September 15th total of 1,013 shares. Based on an average daily trading volume, of 60,042 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

Highway Price Performance

Shares of Highway stock opened at $0.86 on Friday. The company’s fifty day simple moving average is $0.94 and its two-hundred day simple moving average is $0.87. Highway has a 12-month low of $0.60 and a 12-month high of $2.21. The firm has a market cap of $3.98 million, a PE ratio of -2.69 and a beta of 0.46. The company has a quick ratio of 1.84, a current ratio of 2.42 and a debt-to-equity ratio of 0.07.

Highway (NASDAQ:HIHO) last posted its earnings results on Monday, July 20th. The industrial products company reported $0.02 earnings per share for the quarter. Highway had a negative net margin of 28.08% and a negative return on equity of 25.93%. The company had revenue of $2.00 million during the quarter.

Highway Announces Dividend

The firm also recently declared a special dividend, which was paid on Tuesday, September 22nd. Investors of record on Monday, August 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 10th. Highway’s dividend payout ratio (DPR) is presently -15.62%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Highway from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Highway presently has an average rating of “Sell”.

About Highway

Highway Holdings Limited (NASDAQ:HIHO) is a manufacturer of precision metal and plastic components, subassemblies, and finished products for original equipment manufacturers and other industrial customers. The company provides services that include metal stamping, precision machining, wire forming, welding, plastic injection molding, and product assembly.

Highway Holdings serves customers in industries such as automotive, electronics, telecommunications, and other industrial markets. Its manufacturing and assembly operations have historically been based in China, while its customer base has included companies in North America, Europe, and Asia.

Founded in 1990, the company operates as an outsourced manufacturing partner, producing components and assemblies according to customer specifications.