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

Highway Holdings Limited (NASDAQ:HIHO) was the target of a large growth in short interest in 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. Currently, 4.6% of the shares of the stock are short sold. Based on an average trading volume of 7,583,032 shares, the days-to-cover ratio is currently 0.0 days.

Highway Trading Down 0.9%

NASDAQ:HIHO opened at $1.14 on Thursday. Highway has a 52-week low of $0.60 and a 52-week high of $2.21. The company has a quick ratio of 1.84, a current ratio of 2.42 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $0.90 and a 200-day simple moving average of $0.87. The company has a market capitalization of $5.28 million, a PE ratio of -3.56 and a beta of 0.49.

Highway Announces Dividend

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 given a dividend of $0.05 per share. The ex-dividend date is Monday, August 10th. Highway’s payout ratio is presently -15.62%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Highway from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Trading of Highway

An institutional investor recently bought a new stake in Highway stock. Jane Street Group LLC acquired a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 reporting period. Institutional investors and hedge funds own 13.19% of the company’s stock.

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.