Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Rises By 261.4%

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 24,955 shares, a growth of 261.4% from the January 29th total of 6,906 shares. Based on an average trading volume of 55,153 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.8% of the company’s shares are sold short. Approximately 0.8% of the company’s shares are sold short. Based on an average trading volume of 55,153 shares, the days-to-cover ratio is currently 0.5 days.

Highway Price Performance

Highway stock traded down $0.02 during midday trading on Friday, reaching $0.91. The company’s stock had a trading volume of 20,461 shares, compared to its average volume of 46,187. Highway has a 52-week low of $0.77 and a 52-week high of $2.21. The stock has a market capitalization of $4.19 million, a P/E ratio of -7.58 and a beta of 0.35. The stock’s 50-day simple moving average is $1.11 and its 200-day simple moving average is $1.37.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Highway

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC purchased a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned about 0.52% of Highway at the end of the most recent quarter. 13.19% of the stock is owned by hedge funds and other institutional investors.

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.