Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Decreases By 23.3%

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Highway Holdings Limited (NASDAQ:HIHO) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 21,100 shares, a decline of 23.3% from the September 15th total of 27,500 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 351,800 shares, the short-interest ratio is currently 0.1 days.

Several analysts have weighed in on HIHO shares. ValuEngine downgraded shares of Highway from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 30th. TheStreet raised shares of Highway from a “c” rating to a “b” rating in a research note on Wednesday, October 7th.

Shares of NASDAQ:HIHO traded up $0.73 during midday trading on Friday, hitting $4.43. 870,757 shares of the stock traded hands, compared to its average volume of 141,069. The stock has a market capitalization of $17.60 million, a PE ratio of 20.14 and a beta of 0.53. The business’s 50 day moving average is $2.94 and its two-hundred day moving average is $2.48. Highway has a one year low of $1.55 and a one year high of $4.95.

Highway (NASDAQ:HIHO) last issued its quarterly earnings data on Wednesday, October 7th. The industrial products company reported $0.06 EPS for the quarter. The firm had revenue of $2.72 million during the quarter. Highway had a net margin of 7.85% and a return on equity of 8.25%.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, November 2nd.

In other Highway news, major shareholder Zeff Capital, Lp sold 101,285 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $5.72, for a total value of $579,350.20. Following the completion of the sale, the insider now directly owns 433,417 shares of the company’s stock, valued at $2,479,145.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

An institutional investor recently bought a new position in Highway stock. Virtu Financial LLC purchased a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 18,539 shares of the industrial products company’s stock, valued at approximately $41,000. Virtu Financial LLC owned 0.49% of Highway at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.75% of the company’s stock.

Highway Company Profile

Highway Holdings Limited, through its subsidiaries, manufactures and supplies metal, plastic, electric, and electronic components, subassemblies, and finished products for original equipment manufacturers (OEM) and contract manufacturers. The company operates in two segments, Metal Stamping and Mechanical OEM, and Electric OEM.

Further Reading: Return on Investment (ROI) Defined, Explained

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