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

Phoenix Motor Inc. (NASDAQ:PEV) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 4,450,000 shares, an increase of 273.9% from the January 31st total of 1,190,000 shares. Based on an average daily trading volume, of 5,730,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 22.7% of the shares of the stock are sold short.

Institutional Trading of Phoenix Motor

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

Phoenix Motor Price Performance

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

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.