Phoenix Motor Inc. (NASDAQ:PEV) Sees Large Growth in Short Interest

Phoenix Motor Inc. (NASDAQ:PEV) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 4,450,000 shares, a growth of 273.9% from the January 31st total of 1,190,000 shares. Based on an average trading volume of 5,730,000 shares, the short-interest ratio is presently 0.8 days. Currently, 22.7% of the company’s stock are sold short.

Phoenix Motor Stock Performance

Phoenix Motor stock traded down $0.01 during midday trading on Friday, reaching $0.28. 513,157 shares of the company’s stock were exchanged, compared to its average volume of 8,883,771. Phoenix Motor has a 52 week low of $0.20 and a 52 week high of $1.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.49 and a current ratio of 2.19. The firm has a market cap of $12.96 million, a price-to-earnings ratio of -0.86 and a beta of 1.27. The stock’s 50-day simple moving average is $0.29 and its 200 day simple moving average is $0.40.

Hedge Funds Weigh In On Phoenix Motor

An institutional investor recently bought a new position in Phoenix Motor stock. Virtu Financial LLC acquired a new position in shares of Phoenix Motor Inc. (NASDAQ:PEV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 owned by institutional investors and hedge funds.

Phoenix Motor Company Profile

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.