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

Phoenix Motor Inc. (NASDAQ:PEV) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 7,810,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Phoenix Motor stock. Virtu Financial LLC purchased a new position in shares of Phoenix Motor Inc. (NASDAQ:PEV) during the fourth quarter, according to its most recent 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 0.27% of Phoenix Motor at the end of the most recent reporting period. Institutional investors own 8.90% of the company’s stock.

Phoenix Motor Price Performance

Shares of PEV stock traded up $0.00 during trading hours on Wednesday, reaching $0.27. The company had a trading volume of 1,866,327 shares, compared to its average volume of 3,571,811. 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 stock has a fifty day moving average of $0.39 and a 200-day moving average of $0.39. Phoenix Motor has a 12-month low of $0.20 and a 12-month high of $1.39. The company has a market capitalization of $12.46 million, a price-to-earnings ratio of -0.82 and a beta of 0.82.

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.