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

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

Institutional Trading of Phoenix Motor

An institutional investor recently bought a new position in Phoenix Motor stock. Virtu Financial LLC bought a new position in shares of Phoenix Motor Inc. (NASDAQ:PEV) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 102,532 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned approximately 0.27% of Phoenix Motor as of its most recent filing with the SEC. 8.90% of the stock is owned by institutional investors and hedge funds.

Phoenix Motor Stock Up 5.6 %

Shares of Phoenix Motor stock traded up $0.03 during trading on Friday, hitting $0.65. 3,216,800 shares of the stock were exchanged, compared to its average volume of 3,325,853. The stock has a market cap of $29.66 million, a price-to-earnings ratio of -1.94 and a beta of 1.17. The firm’s 50-day moving average price is $0.31 and its 200 day moving average price is $0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.19 and a quick ratio of 0.49. Phoenix Motor has a 12-month low of $0.20 and a 12-month high of $1.39.

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.