Highway (NASDAQ:HIHO) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Highway Holdings Limited (NASDAQ:HIHO) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.01 and traded as low as $0.75. Highway shares last traded at $0.7501, with a volume of 17,985 shares changing hands.

Highway Stock Performance

The company has a market capitalization of $3.45 million, a PE ratio of -4.69 and a beta of 0.54. The company has a 50 day moving average price of $0.80 and a 200 day moving average price of $1.01.

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

Institutional Trading of Highway

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC bought a new position in Highway Holdings Limited (NASDAQ:HIHO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter. 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.