Highway Holdings Limited (NASDAQ:HIHO) Short Interest Update

Highway Holdings Limited (NASDAQ:HIHO) was the target of a large 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 trading volume, of 1,247,015 shares, the short-interest ratio is presently 0.1 days. Currently, 2.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC acquired a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned 0.52% of Highway at the end of the most recent quarter. 13.19% of the stock is owned by institutional investors.

Highway Trading Up 9.4%

Shares of HIHO stock traded up $0.07 during trading hours on Friday, reaching $0.88. 286,109 shares of the company’s stock were exchanged, compared to its average volume of 720,589. Highway has a 1 year low of $0.60 and a 1 year high of $2.21. The stock has a market cap of $4.03 million, a PE ratio of -5.47 and a beta of 0.52. The stock’s fifty day moving average price is $0.79 and its two-hundred day moving average price is $0.93.

Wall Street Analysts Forecast Growth

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