Highway (NASDAQ:HIHO) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Highway Holdings Limited (NASDAQ:HIHO) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.01 and traded as low as $0.75. Highway shares last traded at $0.7501, with a volume of 17,985 shares.

Highway Stock Performance

The stock has a market capitalization of $3.45 million, a P/E ratio of -4.69 and a beta of 0.54. The stock has a 50 day moving average of $0.80 and a 200 day moving average of $1.01.

Highway (NASDAQ:HIHO) last posted its earnings results on Monday, March 2nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter. Highway had a negative net margin of 13.84% and a negative return on equity of 12.30%. The company had revenue of $1.15 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC bought a new position in Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 at the end of the most recent quarter. 13.19% of the stock is owned by institutional investors.

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.