Phoenix Motor Inc. (NASDAQ:PEV) Sees Significant Decline in Short Interest

Phoenix Motor Inc. (NASDAQ:PEV) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 145,900 shares, a decrease of 96.7% from the February 13th total of 4,450,000 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 6,970,000 shares, the days-to-cover ratio is presently 0.0 days.

Phoenix Motor Stock Performance

Shares of Phoenix Motor stock traded up $0.08 on Wednesday, reaching $0.52. 9,598,725 shares of the company were exchanged, compared to its average volume of 3,258,475. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.49 and a current ratio of 2.19. The firm has a market cap of $23.91 million, a price-to-earnings ratio of -1.58 and a beta of 1.17. Phoenix Motor has a 1-year low of $0.20 and a 1-year high of $1.39. The company’s 50-day moving average is $0.30 and its two-hundred day moving average is $0.39.

Hedge Funds Weigh In On Phoenix Motor

An institutional investor recently bought a new position in Phoenix Motor stock. Virtu Financial LLC acquired a new stake in shares of Phoenix Motor Inc. (NASDAQ:PEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 102,532 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned about 0.27% of Phoenix Motor at the end of the most recent quarter. 8.90% of the stock is currently owned by institutional investors and hedge funds.

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.