Highway Holdings Limited (NASDAQ:HIHO) Sees Large Increase in Short Interest

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 85,991 shares, an increase of 281.8% from the February 26th total of 22,521 shares. Based on an average daily trading volume, of 155,382 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.8% of the shares of the stock are sold short. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 155,382 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Highway in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Highway

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC bought a new stake 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 bought 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 at the end of the most recent reporting period. 13.19% of the stock is owned by institutional investors.

Highway Stock Performance

NASDAQ:HIHO opened at $0.81 on Wednesday. Highway has a 52-week low of $0.77 and a 52-week high of $2.21. The stock has a fifty day moving average of $0.93 and a 200 day moving average of $1.27. The firm has a market capitalization of $3.74 million, a price-to-earnings ratio of -5.09 and a beta of 0.37.

Highway (NASDAQ:HIHO) last announced its earnings results on Thursday, March 5th. The industrial products company reported ($0.02) earnings per share for the quarter. The business had revenue of $1.15 million during the quarter. Highway had a negative return on equity of 12.30% and a negative net margin of 13.84%.

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.