Highway (NASDAQ:HIHO) Shares Down 2.6% – Should You Sell?

Highway Holdings Limited (NASDAQ:HIHO) dropped 2.6% during mid-day trading on Wednesday . The company traded as low as $1.91 and last traded at $1.91. Approximately 9,583 shares changed hands during trading, a decline of 76% from the average daily volume of 40,373 shares. The stock had previously closed at $1.96.

Highway Stock Down 0.8 %

The company’s 50-day moving average is $1.95 and its 200 day moving average is $1.96. The company has a market cap of $8.34 million, a price-to-earnings ratio of -15.79 and a beta of 0.03.

Highway (NASDAQ:HIHO) last announced its quarterly earnings results on Thursday, October 10th. The industrial products company reported $0.05 earnings per share for the quarter. The firm had revenue of $2.12 million during the quarter. Highway had a positive return on equity of 4.49% and a negative net margin of 5.79%.

Highway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. This is a positive change from Highway’s previous quarterly dividend of $0.02. The ex-dividend date is Thursday, December 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 10.55%. Highway’s dividend payout ratio (DPR) is -166.67%.

About Highway

Highway Holdings Limited, together with its subsidiaries, manufactures and supplies metal, plastic, electric, and electronic components, subassemblies, and finished products for original equipment manufacturers (OEMs) and contract manufacturers. It operates through two segments, Metal Stamping and Mechanical OEM; and Electric OEM.