Short Interest in Vicinity Motor Corp. (NASDAQ:VEV) Decreases By 47.8%

Vicinity Motor Corp. (NASDAQ:VEVGet Free Report) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 61,600 shares, a decrease of 47.8% from the January 15th total of 118,100 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 23,900 shares, the days-to-cover ratio is currently 2.6 days.

Vicinity Motor Price Performance

Shares of Vicinity Motor stock traded down $0.01 during trading on Monday, hitting $0.80. 22,594 shares of the stock were exchanged, compared to its average volume of 24,465. The stock has a market cap of $36.54 million, a price-to-earnings ratio of -3.08 and a beta of 0.61. The firm’s 50-day moving average price is $0.85 and its 200 day moving average price is $0.92. Vicinity Motor has a 12-month low of $0.64 and a 12-month high of $1.38.

Vicinity Motor (NASDAQ:VEVGet Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported ($0.10) earnings per share (EPS) for the quarter. Vicinity Motor had a negative return on equity of 33.12% and a negative net margin of 71.00%. The business had revenue of $6.49 million for the quarter.

Institutional Trading of Vicinity Motor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP acquired a new position in Vicinity Motor in the fourth quarter valued at $25,000. Geode Capital Management LLC acquired a new position in shares of Vicinity Motor during the fourth quarter worth about $62,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Vicinity Motor by 40.5% during the first quarter. JPMorgan Chase & Co. now owns 113,700 shares of the company’s stock worth $273,000 after acquiring an additional 32,800 shares during the period. 1.73% of the stock is owned by hedge funds and other institutional investors.

Vicinity Motor Company Profile

(Get Free Report)

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.

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