Highway (NASDAQ:HIHO) Shares Cross Below 200 Day Moving Average – Time to Sell?

Highway Holdings Limited (NASDAQ:HIHO)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.98 and traded as low as $0.6855. Highway shares last traded at $0.7460, with a volume of 17,004 shares.

Highway Trading Up 4.6%

The stock’s fifty day moving average is $0.79 and its two-hundred day moving average is $0.97. The company has a market capitalization of $3.51 million, a PE ratio of -4.77 and a beta of 0.52.

Highway (NASDAQ:HIHO) last issued its quarterly earnings results on Monday, March 2nd. The industrial products company reported ($0.02) earnings per share for the quarter. The company had revenue of $1.15 million during the quarter. Highway had a negative return on equity of 12.30% and a negative net margin of 13.84%.

Hedge Funds Weigh In On Highway

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC purchased a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to the company in its most recent disclosure 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. 13.19% of the stock is currently owned by institutional investors and hedge funds.

Highway Company Profile

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.