Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Declines By 82.7%

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 6,906 shares, a decrease of 82.7% from the January 15th total of 39,833 shares. Based on an average trading volume of 70,953 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the company’s shares are sold short. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 70,953 shares, the days-to-cover ratio is currently 0.1 days.

Highway Stock Up 1.9%

Highway stock traded up $0.02 during mid-day trading on Wednesday, hitting $0.96. 26,555 shares of the stock were exchanged, compared to its average volume of 81,374. The stock has a market capitalization of $4.42 million, a price-to-earnings ratio of -8.01 and a beta of 0.35. Highway has a 12 month low of $0.77 and a 12 month high of $2.21. The firm’s fifty day simple moving average is $1.16 and its two-hundred day simple moving average is $1.43.

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

Wall Street Analysts Forecast Growth

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

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.