Highway Holdings Limited (NASDAQ:HIHO) Short Interest Up 304.8% in July

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 144,772 shares, an increase of 304.8% from the July 15th total of 35,763 shares. Based on an average trading volume of 7,583,032 shares, the short-interest ratio is currently 0.0 days. Approximately 4.6% of the company’s stock are sold short.

Highway Price Performance

NASDAQ:HIHO traded down $0.01 during trading hours on Friday, reaching $1.08. The stock had a trading volume of 12,737 shares, compared to its average volume of 747,592. The company has a 50 day moving average price of $0.91 and a two-hundred day moving average price of $0.87. Highway has a 52 week low of $0.60 and a 52 week high of $2.21. The stock has a market capitalization of $5.00 million, a PE ratio of -3.38 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 2.42.

Highway Announces Dividend

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 paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 10th. Highway’s dividend payout ratio (DPR) is currently -15.62%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Highway from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Trading of Highway

A hedge fund recently bought a new stake in Highway stock. Jane Street Group LLC bought a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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. Institutional investors own 13.19% of the company’s stock.

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.