Short Interest in Phoenix Motor Inc. (NASDAQ:PEV) Expands By 562.6%

Phoenix Motor Inc. (NASDAQ:PEV) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 966,700 shares, an increase of 562.6% from the February 28th total of 145,900 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily volume of 7,510,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

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

Phoenix Motor Stock Down 5.5 %

Shares of PEV stock traded down $0.02 on Friday, hitting $0.39. The company’s stock had a trading volume of 471,032 shares, compared to its average volume of 3,431,510. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.19 and a quick ratio of 0.49. The stock has a market capitalization of $17.79 million, a price-to-earnings ratio of -1.17 and a beta of 1.17. Phoenix Motor has a fifty-two week low of $0.20 and a fifty-two week high of $1.39. The firm’s fifty day moving average price is $0.37 and its 200-day moving average price is $0.40.

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.