Highway Holdings Limited (NASDAQ:HIHO) Short Interest Up 304.8% in July

Highway Holdings Limited (NASDAQ:HIHO) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 144,772 shares, a growth of 304.8% from the July 15th total of 35,763 shares. Based on an average trading volume of 7,583,032 shares, the short-interest ratio is currently 0.0 days. Approximately 4.6% of the shares of the company are sold short.

Hedge Funds Weigh In On Highway

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC acquired a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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. 13.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Highway Stock Down 0.9%

HIHO opened at $1.14 on Thursday. 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 business has a 50 day simple moving average of $0.90 and a 200-day simple moving average of $0.87. The stock has a market capitalization of $5.28 million, a P/E ratio of -3.56 and a beta of 0.49. Highway has a 12 month low of $0.60 and a 12 month high of $2.21.

Highway Dividend Announcement

The firm 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 of this dividend is Monday, August 10th. Highway’s dividend payout ratio (DPR) is -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.