Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Drops By 49.2%

Highway Holdings Limited (NASDAQ:HIHO) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 48,790 shares, a decrease of 49.2% from the March 31st total of 96,021 shares. Currently, 1.6% of the shares of the stock are short sold. Based on an average trading volume of 85,041 shares, the short-interest ratio is currently 0.6 days.

Highway Trading Up 0.9%

Shares of HIHO opened at $0.83 on Friday. The firm has a market capitalization of $3.82 million, a P/E ratio of -5.19 and a beta of 0.49. The firm has a 50-day moving average price of $0.85 and a 200 day moving average price of $1.13. Highway has a 12-month low of $0.74 and a 12-month high of $2.21.

Highway (NASDAQ:HIHO) last announced its earnings results on Monday, March 2nd. The industrial products company reported ($0.02) earnings per share for the quarter. The company had revenue of $1.15 million for the quarter. Highway had a negative return on equity of 12.30% and a negative net margin of 13.84%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC acquired a new stake in Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 Securities and Exchange Commission (SEC). Institutional investors 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.