Highway Holdings Limited (NASDAQ:HIHO) Short Interest Up 553.6% in June

Highway Holdings Limited (NASDAQ:HIHO) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 91,027 shares, an increase of 553.6% from the May 31st total of 13,926 shares. Based on an average daily volume of 1,247,015 shares, the short-interest ratio is presently 0.1 days. Currently, 2.9% of the company’s shares are sold short.

Highway Stock Up 0.1%

Shares of HIHO traded up $0.00 on Friday, hitting $0.80. The company’s stock had a trading volume of 9,008 shares, compared to its average volume of 166,238. The firm’s fifty day moving average price is $0.79 and its 200-day moving average price is $0.93. Highway has a fifty-two week low of $0.60 and a fifty-two week high of $2.21. The firm has a market capitalization of $3.69 million, a price-to-earnings ratio of -5.01 and a beta of 0.52.

Institutional Investors Weigh In On Highway

A hedge fund recently bought a new position in Highway stock. Jane Street Group LLC acquired a new stake in Highway Holdings Limited (NASDAQ:HIHO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Highway from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Highway presently has an average 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.