Highway (NASDAQ:HIHO) Issues Earnings Results

Highway (NASDAQ:HIHO) issued its quarterly earnings results on Tuesday. The industrial products company reported ($0.24) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $0.93 million during the quarter. Highway had a negative net margin of 13.84% and a negative return on equity of 12.30%.

Highway Price Performance

Shares of Highway stock opened at $0.82 on Thursday. The business has a 50-day simple moving average of $0.79 and a 200 day simple moving average of $0.90. The firm has a market capitalization of $3.77 million, a price-to-earnings ratio of -2.48 and a beta of 0.49. Highway has a one year low of $0.60 and a one year high of $2.21.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Highway

A hedge fund recently bought a new position in Highway stock. Jane Street Group LLC bought a new position in Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 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 SEC filing. Institutional investors and hedge funds own 13.19% of the company’s stock.

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.