Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Decreases By 90.8%

Highway Holdings Limited (NASDAQ:HIHO) was the target of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 13,346 shares, a decrease of 90.8% from the July 30th total of 144,772 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 151,412 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Highway

An institutional investor recently bought a new stake in Highway stock. Jane Street Group LLC bought a new stake in Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to 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 approximately 0.52% of Highway as of its most recent SEC filing. 13.19% of the stock is owned by hedge funds and other institutional investors.

Highway Price Performance

Highway stock traded down $0.02 during midday trading on Thursday, reaching $0.89. The company had a trading volume of 8,553 shares, compared to its average volume of 709,221. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.42 and a quick ratio of 1.84. Highway has a 12-month low of $0.60 and a 12-month high of $2.21. The company has a market capitalization of $4.12 million, a P/E ratio of -2.78 and a beta of 0.49. The firm’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $0.87.

Highway Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Tuesday, September 22nd. Investors 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%.

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.