Highway (NASDAQ:HIHO) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened
by Danessa Lincoln · The Markets DailyHighway Holdings Limited (NASDAQ:HIHO – Get Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.55 and traded as low as $1.55. Highway shares last traded at $1.59, with a volume of 258,901 shares changing hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (d)” rating on shares of Highway in a research note on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Highway presently has an average rating of “Sell”.
Read Our Latest Analysis on Highway
Highway Stock Up 1.3%
The firm has a market cap of $7.31 million, a P/E ratio of -13.25 and a beta of 0.31. The firm’s fifty day moving average is $1.33 and its two-hundred day moving average is $1.55.
Highway (NASDAQ:HIHO – Get Free Report) last released its quarterly earnings data 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 for the quarter.
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.