Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Grows By 553.6%

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totaling 91,027 shares, a growth of 553.6% from the May 31st total of 13,926 shares. Based on an average daily volume of 1,247,015 shares, the short-interest ratio is presently 0.1 days. Currently, 2.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC acquired a new stake in Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 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 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 13.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Highway from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Highway Price Performance

Shares of NASDAQ:HIHO traded up $0.00 during midday trading on Friday, reaching $0.80. The company’s stock had a trading volume of 9,008 shares, compared to its average volume of 166,238. The business’s fifty day simple moving average is $0.79 and its 200-day simple moving average is $0.93. The company has a market capitalization of $3.69 million, a P/E ratio of -5.01 and a beta of 0.52. Highway has a fifty-two week low of $0.60 and a fifty-two week high of $2.21.

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.