Vicinity Motor Corp. (NASDAQ:VEV) Sees Significant Drop in Short Interest

Vicinity Motor Corp. (NASDAQ:VEV) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 18,900 shares, a drop of 14.9% from the May 31st total of 22,200 shares. Based on an average daily volume of 22,500 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.1% of the company’s shares are short sold.

Vicinity Motor Trading Down 12.6 %

Shares of VEV opened at $0.54 on Tuesday. The firm has a market capitalization of $24.44 million, a P/E ratio of -1.34 and a beta of 0.55. Vicinity Motor has a 12-month low of $0.50 and a 12-month high of $1.38. The firm has a fifty day moving average price of $0.70 and a 200-day moving average price of $0.76.

Vicinity Motor (NASDAQ:VEV) last issued its earnings results on Tuesday, May 14th. The company reported ($0.08) EPS for the quarter. Vicinity Motor had a negative return on equity of 68.36% and a negative net margin of 60.46%. The company had revenue of $13.23 million during the quarter.

Vicinity Motor Company Profile

Vicinity Motor Corp. designs, builds, and distributes a suite of transit buses for public and commercial use under the Vicinity brand in the United States and Canada. It offers electric, CNG, and clean diesel buses, as well as electric trucks and spare parts. The company was formerly known as Grande West Transportation Group Inc and changed its name to Vicinity Motor Corp.