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Vicinity Motor Corp. (NASDAQ:VEV) Sees Significant Decline in Short Interest

Defense World ·  12/02/2022 17:51

Vicinity Motor Corp. (NASDAQ:VEV – Get Rating) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 307,800 shares, a decline of 21.0% from the October 31st total of 389,600 shares. Based on an average daily volume of 886,800 shares, the short-interest ratio is presently 0.3 days. Approximately 0.9% of the shares of the stock are short sold.

Vicinity Motor Stock Down 1.1 %

Shares of VEV stock opened at $0.89 on Friday. The business has a 50-day moving average price of $1.09 and a two-hundred day moving average price of $1.27. Vicinity Motor has a 12-month low of $0.75 and a 12-month high of $4.30. The firm has a market cap of $39.19 million, a P/E ratio of -1.75 and a beta of 0.74.

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Institutional Investors Weigh In On Vicinity Motor

Hedge funds have recently added to or reduced their stakes in the company. Scotia Capital Inc. lifted its stake in shares of Vicinity Motor by 46.3% in the 1st quarter. Scotia Capital Inc. now owns 27,083 shares of the company's stock valued at $65,000 after acquiring an additional 8,568 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Vicinity Motor by 40.5% in the 1st quarter. JPMorgan Chase & Co. now owns 113,700 shares of the company's stock valued at $273,000 after acquiring an additional 32,800 shares during the last quarter. Anson Funds Management LP bought a new stake in shares of Vicinity Motor in the 1st quarter valued at about $240,000. Finally, Warberg Asset Management LLC lifted its stake in shares of Vicinity Motor by 204.0% in the 1st quarter. Warberg Asset Management LLC now owns 56,239 shares of the company's stock valued at $135,000 after acquiring an additional 37,738 shares during the last quarter. Institutional investors own 1.40% of the company's stock.

Vicinity Motor Company Profile

(Get Rating)

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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