Highway (NASDAQ:HIHO) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Highway Holdings Limited (NASDAQ:HIHO) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.94 and traded as high as $1.98. Highway shares last traded at $1.95, with a volume of 12,169 shares changing hands.

Highway Price Performance

The company has a market cap of $8.89 million, a P/E ratio of -16.83 and a beta of 0.03. The firm’s 50-day moving average is $1.93 and its two-hundred day moving average is $1.94.

Highway (NASDAQ:HIHO) last announced its earnings results on Thursday, October 10th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter. Highway had a negative net margin of 5.79% and a positive return on equity of 4.49%. The firm had revenue of $2.12 million for the quarter.

Highway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Thursday, December 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This is an increase from Highway’s previous quarterly dividend of $0.02. This represents a $0.20 dividend on an annualized basis and a yield of 9.90%. Highway’s dividend payout ratio (DPR) is currently -166.67%.

Highway Company Profile

Highway Holdings Limited, together with its subsidiaries, manufactures and supplies metal, plastic, electric, and electronic components, subassemblies, and finished products for original equipment manufacturers (OEMs) and contract manufacturers. It operates through two segments, Metal Stamping and Mechanical OEM; and Electric OEM.