Highway Holdings Limited (HIHO) shares were rising 12.69% to trade at $3.02 in current market at last check. Highway Holdings (HIHO) stock closed previous session at $2.68. The stock volume remained 0.14 million shares, which was higher than the average daily volume of 24777.0 shares within the past 50 days. HIHO shares have fallen by -44.17% over the last 12 months, and they have moved down by -3.60% in the past week.

Over the past three months, the Highway Holdings (HIHO) stock has lost -35.11%, while over the past six months, it has shed -21.18%. Further, HIHO has a current market of $10.69 million and its outstanding shares stood at 4.03 million. HIHO stock is rising after release of its financial results.

How HIHO has performed?

Interstate Holdings (HIHO) is a worldwide producer of a wide assortment of great parts and items for blue chip hardware makers based essentially in Germany. HIHO’s regulatory office is situated in Hong Kong and its assembling offices are situated in Yangon, Myanmar and Shenzhen, China.

Expressway Holdings (HIHO) today announced outcomes for its monetary 2022 second from last quarter and nine months finished December 31, 2021.

• HIHO current execution reflects solid year-over-year improvement for the two time frames, regardless of the continuous effect of COVID-19 and production network and conveyance challenges.
• Net deals at Highway Holdings (HIHO) for the financial 2022 second from last quarter expanded by 18% to $3.0 million from $2.5 million per year prior.
• HIHO’s overall gain for a similar period climbed just multiple times to $240,000, or $0.06 per weakened offer, from $84,000, or $0.02 per weakened offer, in a similar quarter a year sooner.
• For the nine months, net deals of Highway Holdings (HIHO) expanded by 28% to $9.4 million from $7.3 million per year prior.
• For a similar period, HIHO’s net gain climbed forcefully to $812,000, or $0.19 per weakened offer, from $90,000, or $0.02 per weakened offer, a year sooner.

Results for the quarter kept on being affected by the continuous worldwide impacts of COVID-19. Also, exchange related issues including China, the United States and Australia added to industry-wide store network and unrefined substance challenges. These elements impacted the matter of HIHO’s current clients and created the setback for beginning the assembling of another client’s items. Creation for another electronic item, as recently announced, was postponed by just about one year because of deficiency of electronic parts, and Highway Holdings (HIHO) is at last ready to start the main creation run during the past two quarters.

HIHO’s gross edge:

Gross margin at Highway Holdings (HIHO) as a level of deals for the three months finished December 31, 2021 diminished to 28.6 percent from 34.1 percent a year sooner. Gross margin of HIHO as a level of deals for the nine months was 30.8 percent contrasted and 31.7 percent last year.