Phoenix Motor (NASDAQ:PEV) Trading 0.3% Higher – Here’s Why

Phoenix Motor Inc. (NASDAQ:PEV)’s share price was up 0.3% during mid-day trading on Wednesday . The company traded as high as $0.28 and last traded at $0.27. Approximately 1,866,327 shares were traded during trading, a decline of 54% from the average daily volume of 4,045,379 shares. The stock had previously closed at $0.27.

Phoenix Motor Price Performance

The firm has a market cap of $12.46 million, a PE ratio of -0.82 and a beta of 0.82. The stock’s fifty day moving average price is $0.30 and its 200-day moving average price is $0.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.19 and a quick ratio of 0.49.

Institutional Investors Weigh In On Phoenix Motor

A hedge fund recently bought a new stake in Phoenix Motor stock. Jane Street Group LLC purchased a new stake in shares of Phoenix Motor Inc. (NASDAQ:PEV) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 160,167 shares of the company’s stock, valued at approximately $56,000. Jane Street Group LLC owned about 0.35% of Phoenix Motor at the end of the most recent quarter. 8.90% of the stock is currently owned by institutional investors and hedge funds.

About Phoenix Motor

Phoenix Motor Inc designs, develops, manufactures, assembles, and integrates electric drive systems, and light and medium duty electric vehicles in the United States and internationally. It provides chargers, electric forklifts, shuttle buses, Type A school buses, utility and service trucks, flatbed and cargo trucks, and walk-in vans.