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

Highway Holdings Limited (NASDAQ:HIHO) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 63,800 shares, an increase of 4,457.1% from the October 15th total of 1,400 shares. Based on an average daily trading volume, of 124,700 shares, the days-to-cover ratio is currently 0.5 days. Approximately 2.4% of the company’s stock are sold short.

Highway Stock Performance

HIHO stock opened at $1.96 on Wednesday. Highway has a fifty-two week low of $1.70 and a fifty-two week high of $2.88. The company’s 50 day moving average price is $1.92 and its 200 day moving average price is $1.98. The firm has a market capitalization of $8.62 million, a price-to-earnings ratio of -16.33 and a beta of 0.02.

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

Highway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. This is a boost from Highway’s previous quarterly dividend of $0.02. This represents a $0.20 annualized dividend and a dividend yield of 10.20%. The ex-dividend date of this dividend is Thursday, December 12th. Highway’s dividend payout ratio is currently -66.67%.

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.