Highway Holdings Limited (NASDAQ:HIHO) Sees Significant Decrease in Short Interest

Highway Holdings Limited (NASDAQ:HIHO) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 27,003 shares, a drop of 44.7% from the April 15th total of 48,790 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 15,050 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC acquired a new position in Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 13.19% of the company’s stock.

Highway Stock Up 0.4%

Shares of Highway stock traded up $0.00 during trading on Friday, reaching $0.77. The company’s stock had a trading volume of 2,424 shares, compared to its average volume of 14,677. Highway has a 12-month low of $0.74 and a 12-month high of $2.21. The company has a market capitalization of $3.56 million, a P/E ratio of -4.83 and a beta of 0.54. The business has a 50 day moving average price of $0.82 and a 200-day moving average price of $1.05.

Highway (NASDAQ:HIHO) last released its quarterly earnings data on Monday, March 2nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $1.15 million during the quarter. Highway had a negative return on equity of 12.30% and a negative net margin of 13.84%.

Highway Company Profile

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.