Highway (NASDAQ:HIHO) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Highway Holdings Limited (NASDAQ:HIHO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.88 and traded as high as $1.24. Highway shares last traded at $1.15, with a volume of 6,092,916 shares trading hands.

Wall Street Analyst Weigh In

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

Highway Stock Performance

The stock has a market capitalization of $5.32 million, a PE ratio of -3.59 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 2.23. The firm’s 50 day moving average is $0.81 and its two-hundred day moving average is $0.88.

Highway (NASDAQ:HIHO) last issued its quarterly earnings results on Tuesday, July 14th. The industrial products company reported ($0.24) EPS for the quarter. The business had revenue of $0.93 million during the quarter. Highway had a negative net margin of 28.08% and a negative return on equity of 25.65%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Highway stock. Jane Street Group LLC purchased a new position in shares of Highway Holdings Limited (NASDAQ:HIHO) during the 4th quarter, according to the company in its most recent 13F filing 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 0.52% of Highway at the end of the most recent reporting period. 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.