Highway Holdings Limited (NASDAQ:HIHO) Sees Significant Drop in Short Interest

Highway Holdings Limited (NASDAQ:HIHO) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 49,823 shares, a drop of 45.3% from the June 15th total of 91,027 shares. Based on an average daily volume of 105,122 shares, the short-interest ratio is currently 0.5 days. Currently, 1.6% of the shares of the stock are short sold.

Institutional Trading of Highway

An institutional investor recently bought a new stake in Highway stock. Jane Street Group LLC acquired a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) during the 4th quarter, according to the company in its most recent Form 13F 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 approximately 0.52% of Highway as of its most recent SEC filing. 13.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Highway from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Highway presently has an average rating of “Sell”.

Highway Stock Performance

Shares of HIHO opened at $0.84 on Wednesday. Highway has a 52-week low of $0.60 and a 52-week high of $2.21. The firm has a market cap of $3.88 million, a price-to-earnings ratio of -5.27 and a beta of 0.49. The business’s fifty day moving average is $0.79 and its 200-day moving average is $0.91.

Highway (NASDAQ:HIHO) last released its quarterly earnings data on Tuesday, July 14th. The industrial products company reported ($0.24) earnings per share for the quarter. Highway had a negative net margin of 13.84% and a negative return on equity of 12.30%. The business had revenue of $0.93 million during the quarter.

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.