Short Interest in Phoenix Motor Inc. (NASDAQ:PEV) Expands By 562.6%

Phoenix Motor Inc. (NASDAQ:PEV) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 966,700 shares, a growth of 562.6% from the February 28th total of 145,900 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 7,510,000 shares, the days-to-cover ratio is currently 0.1 days.

Phoenix Motor Stock Down 8.7 %

PEV stock traded down $0.04 during mid-day trading on Wednesday, reaching $0.47. The company had a trading volume of 826,367 shares, compared to its average volume of 3,439,056. The company has a market capitalization of $21.56 million, a price-to-earnings ratio of -1.42 and a beta of 1.17. Phoenix Motor has a 52 week low of $0.20 and a 52 week high of $1.39. The stock has a 50 day simple moving average of $0.36 and a two-hundred day simple moving average of $0.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.19 and a quick ratio of 0.49.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Phoenix Motor stock. Virtu Financial LLC bought a new stake in Phoenix Motor Inc. (NASDAQ:PEV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 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 filing with the Securities and Exchange Commission. 8.90% of the stock is currently owned by hedge funds and other institutional investors.

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.