Phoenix Motor Inc. (NASDAQ:PEV) Sees Large Drop in Short Interest

Phoenix Motor Inc. (NASDAQ:PEV) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 319,700 shares, a decline of 46.2% from the October 15th total of 594,000 shares. Based on an average daily trading volume, of 5,160,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.9% of the shares of the company are short sold.

Phoenix Motor Stock Performance

PEV traded down $0.02 on Wednesday, reaching $0.37. The company had a trading volume of 485,927 shares, compared to its average volume of 1,593,069. The company has a quick ratio of 0.64, a current ratio of 3.07 and a debt-to-equity ratio of 0.01. Phoenix Motor has a 1 year low of $0.32 and a 1 year high of $1.60. The stock has a market capitalization of $13.97 million, a PE ratio of -1.20 and a beta of 1.47. The stock has a 50-day moving average price of $0.52 and a 200-day moving average price of $0.53.

Phoenix Motor (NASDAQ:PEV) last announced its earnings results on Thursday, October 31st. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $12.03 million for the quarter.

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.