Phoenix Motor (NASDAQ:PEV) Shares Down 3.5%

Phoenix Motor Inc. (NASDAQ:PEV) fell 3.5% on Thursday . The stock traded as low as $0.60 and last traded at $0.61. 44,208 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 47,674 shares. The stock had previously closed at $0.63.

Phoenix Motor Trading Down 2.0 %

The firm has a market cap of $20.57 million, a price-to-earnings ratio of -0.61 and a beta of 1.29. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $0.83 and a 200-day moving average price of $1.09.

Phoenix Motor (NASDAQ:PEV) last issued its quarterly earnings data on Monday, April 15th. The company reported ($0.33) earnings per share (EPS) for the quarter. The firm had revenue of ($0.11) million during the quarter. Phoenix Motor had a negative net margin of 265.05% and a negative return on equity of 335.82%.

Hedge Funds Weigh In On Phoenix Motor

An institutional investor recently bought a new position in Phoenix Motor stock. Harvest Fund Management Co. Ltd bought a new position in Phoenix Motor Inc. (NASDAQ:PEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 49,030 shares of the company’s stock, valued at approximately $51,000. Harvest Fund Management Co. Ltd owned about 0.23% of Phoenix Motor as of its most recent filing with the Securities and Exchange Commission. 8.90% of the stock is currently owned by hedge funds and other institutional investors.

Phoenix Motor Company Profile

Phoenix Motor Inc designs, develops, manufactures, assembles, and integrates electric drive systems, and light and medium duty electric vehicles in the United States and internationally. It provides chargers, electric forklifts, shuttle buses, Type A school buses, utility and service trucks, flatbed and cargo trucks, and walk-in vans.