Phoenix Motor (NASDAQ:PEV) Trading Down 3.5%

Phoenix Motor Inc. (NASDAQ:PEV)’s share price dropped 3.5% during trading on Thursday . The stock traded as low as $0.60 and last traded at $0.61. Approximately 44,208 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 47,674 shares. The stock had previously closed at $0.63.

Phoenix Motor Trading Down 2.0 %

The company has a market cap of $20.57 million, a price-to-earnings ratio of -0.61 and a beta of 1.29. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $0.83 and its two-hundred day simple moving average is $1.09.

Phoenix Motor (NASDAQ:PEV) last issued its earnings results on Monday, April 15th. The company reported ($0.33) earnings per share (EPS) for the quarter. The company had revenue of ($0.11) million during the quarter. Phoenix Motor had a negative net margin of 265.05% and a negative return on equity of 335.82%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Phoenix Motor stock. Harvest Fund Management Co. Ltd bought a new stake in Phoenix Motor Inc. (NASDAQ:PEV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 49,030 shares of the company’s stock, valued at approximately $51,000. Harvest Fund Management Co. Ltd owned about 0.23% of Phoenix Motor as of its most recent filing with the Securities & Exchange Commission. 8.90% of the stock is owned by 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.