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

Highway Holdings Limited (NASDAQ:HIHO) saw a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 6,906 shares, a decline of 82.7% from the January 15th total of 39,833 shares. Based on an average trading volume of 70,953 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are short sold. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 70,953 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Highway in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Highway has an average rating of “Sell”.

Highway Price Performance

Shares of Highway stock traded down $0.01 during trading on Tuesday, hitting $0.94. The stock had a trading volume of 18,479 shares, compared to its average volume of 64,657. The business has a fifty day moving average of $1.16 and a two-hundred day moving average of $1.43. Highway has a fifty-two week low of $0.77 and a fifty-two week high of $2.21. The firm has a market cap of $4.34 million, a P/E ratio of -7.86 and a beta of 0.35.

Highway (NASDAQ:HIHO) last released its earnings results on Monday, December 15th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter. Highway had a negative return on equity of 8.57% and a negative net margin of 8.71%.The firm had revenue of $1.18 million for the quarter.

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.