Highway Holdings Limited (NASDAQ:HIHO) Short Interest Update

Highway Holdings Limited (NASDAQ:HIHO – Get Free Report) saw a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 27,003 shares, a decline of 44.7% from the April 15th total of 48,790 shares. Based on an average daily trading volume, of 15,050 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.9% of the company’s shares are sold short.

Highway Price Performance

Highway stock traded down $0.01 during midday trading on Monday, hitting $0.76. 8,928 shares of the company were exchanged, compared to its average volume of 59,940. The company’s fifty day moving average price is $0.82 and its 200-day moving average price is $1.05. The company has a market cap of $3.51 million, a PE ratio of -4.78 and a beta of 0.54. Highway has a fifty-two week low of $0.74 and a fifty-two week high of $2.21.

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Highway (NASDAQ:HIHO – Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter. Highway had a negative return on equity of 12.30% and a negative net margin of 13.84%.The business had revenue of $1.15 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC purchased a new position in shares of Highway Holdings Limited (NASDAQ:HIHO – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 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. 13.19% of the stock is owned by hedge funds and other institutional investors.

About Highway

(Get Free Report)

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.

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