Highway (NASDAQ:HIHO) Posts Quarterly Earnings Results

Highway (NASDAQ:HIHO) posted its earnings results on Monday. The industrial products company reported ($0.02) earnings per share for the quarter, Zacks reports. Highway had a negative return on equity of 12.12% and a negative net margin of 13.84%.The business had revenue of $1.15 million during the quarter.

Highway Trading Up 5.8%

Shares of HIHO stock opened at $0.90 on Wednesday. The stock has a market capitalization of $4.14 million, a P/E ratio of -5.63 and a beta of 0.37. Highway has a 12-month low of $0.77 and a 12-month high of $2.21. The firm’s 50 day moving average is $1.10 and its 200 day moving average is $1.36.

Institutional Trading of Highway

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC bought a new position in Highway Holdings Limited (NASDAQ:HIHO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned about 0.52% of Highway at the end of the most recent quarter. Hedge funds and other institutional investors own 13.19% of the company’s stock.

Analyst Ratings Changes

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

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.