Phoenix Motor Inc. (NASDAQ:PEV) Short Interest Down 44.2% in May

Phoenix Motor Inc. (NASDAQ:PEV – Get Rating) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 40,400 shares, a decrease of 44.2% from the April 30th total of 72,400 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 73,500 shares, the days-to-cover ratio is currently 0.5 days.

Phoenix Motor Stock Up 5.2 %

Shares of NASDAQ PEV opened at $0.78 on Friday. The firm has a market cap of $16.58 million and a PE ratio of -1.20. Phoenix Motor has a 12-month low of $0.57 and a 12-month high of $8.50. The company’s fifty day simple moving average is $0.75 and its 200 day simple moving average is $1.11. The company has a quick ratio of 0.60, a current ratio of 1.30 and a debt-to-equity ratio of 0.01.

Phoenix Motor (NASDAQ:PEV – Get Rating) last announced its quarterly earnings results on Wednesday, March 29th. The company reported ($0.21) earnings per share for the quarter. Phoenix Motor had a negative net margin of 241.93% and a negative return on equity of 88.97%. The business had revenue of $1.75 million during the quarter.

Hedge Funds Weigh In On 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 – Get Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,720 shares of the company’s stock, valued at approximately $60,000. Virtu Financial LLC owned 0.06% of Phoenix Motor at the end of the most recent quarter. Hedge funds and other institutional investors own 11.45% of the company’s stock.

About Phoenix Motor

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Phoenix Motor Inc designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles. The company offers buses and trucks. It focuses on developing light and medium duty commercial electric vehicles for various service and government fleet markets, including city fleets, campuses, municipalities, and transit agencies; and serves a spectrum of commercial fleet customers, such as airport shuttle operators, hotel chains, transit fleet operators, seaports, last-mile delivery fleets, and large corporations.