Highway Holdings Limited (NASDAQ:HIHO) Sees Significant Decline in Short Interest
by Teresa Graham · The Cerbat GemHighway Holdings Limited (NASDAQ:HIHO – Get Free Report) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totaling 39,833 shares, a decline of 91.9% from the December 31st total of 489,996 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 101,919 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 101,919 shares, the short-interest ratio is presently 0.4 days. Currently, 1.3% of the shares of the stock are sold short.
Highway Trading Down 11.5%
HIHO stock traded down $0.12 during midday trading on Wednesday, hitting $0.92. 164,124 shares of the company’s stock were exchanged, compared to its average volume of 84,877. Highway has a 1-year low of $0.77 and a 1-year high of $2.21. The business has a 50-day simple moving average of $1.20 and a two-hundred day simple moving average of $1.48. The stock has a market capitalization of $4.23 million, a PE ratio of -7.67 and a beta of 0.31.
Highway (NASDAQ:HIHO – Get Free Report) last posted its earnings results on Monday, December 15th. The industrial products company reported ($0.08) earnings per share for the quarter. The company had revenue of $1.18 million during the quarter. Highway had a negative net margin of 8.71% and a negative return on equity of 8.57%.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Highway in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.
View Our Latest Research Report on Highway
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.