Highway (NASDAQ:HIHO) Stock Passes Above 200 Day Moving Average – What’s Next?

Highway Holdings Limited (NASDAQ:HIHO)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.87 and traded as high as $0.9199. Highway shares last traded at $0.9035, with a volume of 29,011 shares trading hands.

Analyst Upgrades and Downgrades

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

Highway Stock Performance

The stock has a market cap of $4.26 million, a P/E ratio of -2.88 and a beta of 0.48. The stock has a fifty day simple moving average of $0.95 and a 200-day simple moving average of $0.87. The company has a quick ratio of 1.84, a current ratio of 2.42 and a debt-to-equity ratio of 0.07.

Highway Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, September 22nd. Investors of record on Monday, August 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. Highway’s dividend payout ratio is presently -15.62%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC purchased a new stake in Highway Holdings Limited (NASDAQ:HIHO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 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. Institutional investors and hedge funds own 13.19% of the company’s stock.

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.