Highway Holdings Limited (NASDAQ:HIHO) Sees Significant Increase in Short Interest

Highway Holdings Limited (NASDAQ:HIHOGet Rating) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 6,400 shares, an increase of 236.8% from the April 30th total of 1,900 shares. Based on an average trading volume of 13,100 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.3% of the company’s stock are short sold.

Highway Stock Performance

NASDAQ:HIHO remained flat at $2.03 on Friday. The company’s stock had a trading volume of 7,152 shares, compared to its average volume of 10,525. Highway has a 52 week low of $1.71 and a 52 week high of $3.30. The firm’s 50-day simple moving average is $2.01 and its 200-day simple moving average is $2.17. The firm has a market capitalization of $6.11 million, a P/E ratio of 18.46 and a beta of 0.27.

Highway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Monday, June 26th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 19.70%. The ex-dividend date of this dividend is Friday, June 23rd. This is a boost from Highway’s previous quarterly dividend of $0.05. Highway’s payout ratio is 181.83%.

Analyst Ratings Changes

Separately, TheStreet cut Highway from a “b-” rating to a “c+” rating in a research note on Tuesday, April 11th.

Highway Company Profile

(Get Rating)

Highway Holdings Ltd. engages in the manufacture of metal, plastic, electric and electronic components, subassemblies, and finished products. It operates through the Metal Stamping and Mechanical Original Equipment Manufacturer (OEM) and Electric OEM segments. The Metal Stamping and Mechanical OEM segment focuses on the manufacture and sale of metal parts and components.

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