Phoenix Motor (NASDAQ:PEV) Trading Down 7.7% – Time to Sell?

Shares of Phoenix Motor Inc. (NASDAQ:PEV) were down 7.7% on Wednesday . The stock traded as low as $0.30 and last traded at $0.30. Approximately 1,096,683 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 9,327,281 shares. The stock had previously closed at $0.33.

Phoenix Motor Stock Performance

The company has a quick ratio of 0.49, a current ratio of 2.19 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $13.77 million, a P/E ratio of -0.91 and a beta of 1.27. The business has a fifty day moving average price of $0.29 and a 200-day moving average price of $0.40.

Hedge Funds Weigh In On Phoenix Motor

A hedge fund recently bought a new stake in Phoenix Motor stock. Virtu Financial LLC acquired a new stake in shares of Phoenix Motor Inc. (NASDAQ:PEV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 102,532 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned 0.27% of Phoenix Motor as of its most recent SEC filing. Institutional investors own 8.90% of the company’s stock.

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.