Highway Holdings Limited (NASDAQ:HIHO) Sees Significant Growth in Short Interest

Highway Holdings Limited (NASDAQ:HIHO) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 489,996 shares, an increase of 11,343.2% from the December 15th total of 4,282 shares. Approximately 15.7% of the company’s shares are sold short. Based on an average trading volume of 15,075,565 shares, the days-to-cover ratio is presently 0.0 days. Based on an average trading volume of 15,075,565 shares, the days-to-cover ratio is presently 0.0 days. Approximately 15.7% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Highway Stock Performance

Shares of Highway stock opened at $1.17 on Tuesday. The business has a 50-day simple moving average of $1.28 and a 200-day simple moving average of $1.52. Highway has a one year low of $0.77 and a one year high of $2.21. The company has a market cap of $5.38 million, a PE ratio of -9.75 and a beta of 0.31.

Highway (NASDAQ:HIHO) last issued its quarterly earnings results on Monday, December 15th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter. Highway had a negative return on equity of 8.57% and a negative net margin of 8.71%.The firm had revenue of $1.18 million during the quarter.

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.