Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Increases By 304.8%

Highway Holdings Limited (NASDAQ:HIHOGet Free Report) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 144,772 shares, an increase of 304.8% from the July 15th total of 35,763 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average daily trading volume, of 7,583,032 shares, the short-interest ratio is currently 0.0 days.

Highway Stock Performance

Shares of HIHO stock opened at $1.07 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.42 and a quick ratio of 1.84. Highway has a 1 year low of $0.60 and a 1 year high of $2.21. The firm has a market capitalization of $4.95 million, a price-to-earnings ratio of -3.34 and a beta of 0.49. The business has a fifty day moving average of $0.92 and a 200 day moving average of $0.87.

Highway Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Monday, August 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. Highway’s dividend payout ratio is -15.62%.

Wall Street Analysts Forecast Growth

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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Check Out Our Latest Research Report on Highway

Institutional Investors Weigh In On Highway

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC purchased a new stake in shares of Highway Holdings Limited (NASDAQ:HIHOFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,122 shares of the industrial products company’s stock, valued at approximately $38,000. Jane Street Group LLC owned 0.52% of Highway as of its most recent filing with the Securities & Exchange Commission. 13.19% of the stock is currently owned by institutional investors.

Highway Company Profile

(Get Free Report)

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.

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