Short Interest in Highway Holdings Limited (NASDAQ:HIHO) Grows By 4,457.1%

Highway Holdings Limited (NASDAQ:HIHO) was the recipient of a large increase in short interest during the month of 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. Approximately 2.4% of the company’s shares are sold short. Based on an average trading volume of 124,700 shares, the days-to-cover ratio is presently 0.5 days.

Highway Stock Up 1.0 %

Highway stock opened at $1.99 on Thursday. The firm has a market cap of $8.76 million, a PE ratio of -16.58 and a beta of 0.02. Highway has a 52-week low of $1.70 and a 52-week high of $2.88. The company’s 50 day moving average is $1.92 and its two-hundred day moving average is $1.98.

Highway (NASDAQ:HIHO) last released its earnings results on Thursday, October 10th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter. The company 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Thursday, December 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 10.05%. This is a positive change from Highway’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, December 12th. Highway’s dividend payout ratio (DPR) is presently -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.