Highway (NASDAQ:HIHO) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Highway Holdings Limited (NASDAQ:HIHO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.86 and traded as high as $1.02. Highway shares last traded at $0.94, with a volume of 197,011 shares traded.

Analyst Upgrades and Downgrades

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

Highway Trading Down 1.3%

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.42 and a quick ratio of 1.84. The stock has a market capitalization of $4.09 million, a price-to-earnings ratio of -2.77 and a beta of 0.48. The business has a fifty day moving average of $0.97 and a 200-day moving average of $0.86.

Highway (NASDAQ:HIHO) last issued its earnings results on Monday, July 20th. The industrial products company reported $0.02 earnings per share for the quarter. The firm had revenue of $2.00 million during the quarter. Highway had a negative net margin of 28.08% and a negative return on equity of 25.93%.

Highway Dividend Announcement

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

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.