Vicinity Motor Corp. (NASDAQ:VEV) Short Interest Up 27,284.6% in July

Vicinity Motor Corp. (NASDAQ:VEV) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,780,000 shares, an increase of 27,284.6% from the June 30th total of 6,500 shares. Approximately 3.9% of the company’s shares are sold short. Based on an average daily volume of 1,970,000 shares, the short-interest ratio is currently 0.9 days.

Vicinity Motor Stock Performance

Shares of VEV stock traded up $0.01 during mid-day trading on Friday, reaching $0.38. The company’s stock had a trading volume of 730,872 shares, compared to its average volume of 6,417,673. The company’s 50 day simple moving average is $0.60 and its 200-day simple moving average is $0.71. Vicinity Motor has a 12-month low of $0.30 and a 12-month high of $1.38.

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

About Vicinity Motor

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.