Short Interest in Vicinity Motor Corp. (NASDAQ:VEV) Declines By 90.9%

Vicinity Motor Corp. (NASDAQ:VEV) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 162,600 shares, a decrease of 90.9% from the July 15th total of 1,780,000 shares. Based on an average daily volume of 2,230,000 shares, the short-interest ratio is presently 0.1 days. Currently, 0.4% of the company’s stock are sold short.

Vicinity Motor Trading Up 89.1 %

Shares of VEV traded up $0.09 during mid-day trading on Tuesday, reaching $0.19. The company’s stock had a trading volume of 310,924,750 shares, compared to its average volume of 3,011,784. Vicinity Motor has a 1-year low of $0.10 and a 1-year high of $1.23. The stock has a market cap of $8.59 million, a P/E ratio of -0.58 and a beta of 0.54. The business has a 50-day simple moving average of $0.50 and a two-hundred day simple moving average of $0.67.

Vicinity Motor (NASDAQ:VEV) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.08) EPS for the quarter. Vicinity Motor had a negative return on equity of 68.36% and a negative net margin of 60.46%. The business had revenue of $13.23 million for the quarter.

About Vicinity Motor

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.