Vicinity Motor Corp. (NASDAQ:VEV) Sees Large Increase in Short Interest

Vicinity Motor Corp. (NASDAQ:VEV) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 787,500 shares, an increase of 168.0% from the September 30th total of 293,800 shares. Based on an average daily trading volume, of 10,290,000 shares, the short-interest ratio is presently 0.1 days. Approximately 1.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners reissued a “sell” rating on shares of Vicinity Motor in a report on Friday, October 18th.

Vicinity Motor Price Performance

Shares of NASDAQ:VEV opened at $0.06 on Monday. Vicinity Motor has a 1-year low of $0.04 and a 1-year high of $0.96. The stock has a market cap of $2.76 million, a P/E ratio of -0.15 and a beta of 0.44. The firm has a fifty day moving average price of $0.12 and a 200 day moving average price of $0.42.

About Vicinity Motor

Vicinity Motor Corp. designs, builds, and distributes a suite of transit buses for public and commercial use under the Vicinity brand in the United States and Canada. It offers electric, CNG, and clean diesel buses, as well as electric trucks and spare parts. The company was formerly known as Grande West Transportation Group Inc and changed its name to Vicinity Motor Corp.