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

Highway Holdings Limited (NASDAQ:HIHO) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 39,833 shares, a drop of 91.9% from the December 31st total of 489,996 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 101,919 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 101,919 shares, the short-interest ratio is currently 0.4 days. Approximately 1.3% of the shares of the company are short sold.

Highway Price Performance

Shares of Highway stock traded down $0.12 on Wednesday, hitting $0.92. 163,924 shares of the company’s stock traded hands, compared to its average volume of 84,873. The stock has a market capitalization of $4.23 million, a PE ratio of -7.67 and a beta of 0.31. The firm’s 50-day moving average price is $1.20 and its two-hundred day moving average price is $1.48. Highway has a one year low of $0.77 and a one year high of $2.21.

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

Analysts Set New Price Targets

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