Highway (NASDAQ:HIHO) Shares Pass Above 200-Day Moving Average – Time to Sell?

Highway Holdings Limited (NASDAQ:HIHO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.87 and traded as high as $0.92. Highway shares last traded at $0.9138, with a volume of 53,053 shares.

Analysts Set New Price Targets

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

Highway Stock Performance

The stock’s 50-day moving average price is $0.93 and its 200-day moving average price is $0.87. The company has a market capitalization of $4.22 million, a price-to-earnings ratio of -2.85 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 2.42.

Highway Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Monday, August 10th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 10th. Highway’s payout ratio is presently -15.62%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC purchased a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 as of its most recent SEC filing. 13.19% of the stock is currently owned by hedge funds and other institutional investors.

About Highway

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.