Highway (NASDAQ:HIHO) Shares Cross Above 200 Day Moving Average – Should You Sell?

Highway Holdings Limited (NASDAQ:HIHO) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.88 and traded as high as $1.24. Highway shares last traded at $1.15, with a volume of 6,092,916 shares traded.

Wall Street Analysts Forecast Growth

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

Highway Trading Down 21.2%

The company has a market cap of $4.82 million, a P/E ratio of -3.25 and a beta of 0.49. The company has a current ratio of 2.23, a quick ratio of 1.78 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $0.82 and a 200-day moving average price of $0.88.

Institutional Trading of Highway

A hedge fund recently bought a new position in Highway stock. Jane Street Group LLC bought a new stake in Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned 0.52% of Highway as of its most recent filing with the SEC. 13.19% of the stock is owned by institutional investors.

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.