Phoenix Motor Inc. (NASDAQ:PEV) Short Interest Up 49.2% in May

Phoenix Motor Inc. (NASDAQ:PEV) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 256,500 shares, a growth of 49.2% from the May 15th total of 171,900 shares. Based on an average daily volume of 78,300 shares, the days-to-cover ratio is currently 3.3 days. Approximately 1.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Phoenix Motor

An institutional investor recently bought a new position in Phoenix Motor stock. Harvest Fund Management Co. Ltd bought a new stake in Phoenix Motor Inc. (NASDAQ:PEV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 49,030 shares of the company’s stock, valued at approximately $51,000. Harvest Fund Management Co. Ltd owned approximately 0.23% of Phoenix Motor at the end of the most recent quarter. Hedge funds and other institutional investors own 8.90% of the company’s stock.

Phoenix Motor Stock Performance

Phoenix Motor stock traded up $0.04 during midday trading on Friday, hitting $0.76. The company’s stock had a trading volume of 17,348 shares, compared to its average volume of 92,357. The company has a 50-day moving average price of $0.65 and a two-hundred day moving average price of $0.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.55 and a quick ratio of 0.39. Phoenix Motor has a 1-year low of $0.41 and a 1-year high of $1.94.

Phoenix Motor (NASDAQ:PEV) last issued its earnings results on Monday, April 15th. The company reported ($0.33) EPS for the quarter. The firm had revenue of ($0.11) million during the quarter. Phoenix Motor had a negative net margin of 265.05% and a negative return on equity of 335.82%.

Phoenix Motor Company Profile

Phoenix Motor Inc designs, develops, manufactures, assembles, and integrates electric drive systems, and light and medium duty electric vehicles in the United States and internationally. It provides chargers, electric forklifts, shuttle buses, Type A school buses, utility and service trucks, flatbed and cargo trucks, and walk-in vans.