Highway Holdings Limited (NASDAQ:HIHO) Short Interest Update

Highway Holdings Limited (NASDAQ:HIHO) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 85,991 shares, an increase of 281.8% from the February 26th total of 22,521 shares. Based on an average daily trading volume, of 155,382 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC purchased a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter. Institutional investors own 13.19% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Highway in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Highway Stock Performance

HIHO stock opened at $0.79 on Friday. The firm has a market cap of $3.64 million, a P/E ratio of -4.94 and a beta of 0.37. Highway has a 1 year low of $0.77 and a 1 year high of $2.21. The stock has a 50-day simple moving average of $0.92 and a 200-day simple moving average of $1.26.

Highway (NASDAQ:HIHO) last released its quarterly earnings results on Thursday, March 5th. The industrial products company reported ($0.02) EPS for the quarter. Highway had a negative return on equity of 12.30% and a negative net margin of 13.84%.The company had revenue of $1.15 million for the quarter.

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.