Phoenix Motor Inc. (NASDAQ:PEV) Short Interest Down 66.3% in March

Phoenix Motor Inc. (NASDAQ:PEV) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 326,100 shares, a decline of 66.3% from the March 15th total of 966,700 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 7,810,000 shares, the days-to-cover ratio is currently 0.0 days.

Phoenix Motor Stock Performance

PEV traded up $0.00 during trading on Wednesday, hitting $0.27. The company’s stock had a trading volume of 1,866,327 shares, compared to its average volume of 3,571,811. The company has a quick ratio of 0.49, a current ratio of 2.19 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.46 million, a PE ratio of -0.82 and a beta of 0.82. Phoenix Motor has a one year low of $0.20 and a one year high of $1.39. The business’s 50 day simple moving average is $0.39 and its 200-day simple moving average is $0.39.

Institutional Trading of Phoenix Motor

A hedge fund recently bought a new stake in Phoenix Motor stock. Virtu Financial LLC purchased a new position in Phoenix Motor Inc. (NASDAQ:PEV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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. Institutional investors and hedge funds own 8.90% of the company’s stock.

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.