Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Drops By 90.8%

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 13,346 shares, a decline of 90.8% from the July 30th total of 144,772 shares. Based on an average daily volume of 151,412 shares, the short-interest ratio is presently 0.1 days. Currently, 0.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings raised 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, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Highway

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC bought a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 13.19% of the company’s stock.

Highway Stock Up 0.1%

Shares of Highway stock traded up $0.00 on Wednesday, hitting $0.90. 9,133 shares of the company traded hands, compared to its average volume of 713,478. Highway has a 12-month low of $0.60 and a 12-month high of $2.21. The company has a quick ratio of 1.84, a current ratio of 2.42 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.19 million, a PE ratio of -2.83 and a beta of 0.49. The company has a 50-day moving average price of $0.94 and a 200 day moving average price of $0.87.

Highway Dividend Announcement

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

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.