Highway (NASDAQ:HIHO) Releases Quarterly Earnings Results

Highway (NASDAQ:HIHO) announced its quarterly earnings results on Tuesday. The industrial products company reported ($0.24) EPS for the quarter, FiscalAI reports. Highway had a negative net margin of 13.84% and a negative return on equity of 12.30%. The business had revenue of $0.93 million for the quarter.

Highway Stock Performance

NASDAQ HIHO traded down $0.01 on Tuesday, hitting $0.84. The stock had a trading volume of 10,199 shares, compared to its average volume of 159,046. Highway has a 52-week low of $0.60 and a 52-week high of $2.21. The company has a market capitalization of $3.88 million, a price-to-earnings ratio of -5.27 and a beta of 0.49. The firm has a 50-day moving average of $0.79 and a 200-day moving average of $0.91.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC purchased a new position in Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 13.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded 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 data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.