Highway (NASDAQ:HIHO) Share Price Passes Below 200 Day Moving Average – What’s Next?

Highway Holdings Limited (NASDAQ:HIHO) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Highway Stock Down 2.9%

The business has a fifty day simple moving average of $0.80 and a two-hundred day simple moving average of $0.98. The company has a market capitalization of $3.43 million, a price-to-earnings ratio of -4.66 and a beta of 0.52.

Highway (NASDAQ:HIHO) last released its quarterly earnings data 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 for the quarter. Highway had a negative net margin of 13.84% and a negative return on equity of 12.30%.

Institutional Investors Weigh In On Highway

An institutional investor recently bought a new position in Highway stock. Jane Street Group LLC acquired a new stake in shares of Highway Holdings Limited (NASDAQ:HIHO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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. 13.19% of the stock is 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.