Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) Sees Large Decline in Short Interest

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 79,600 shares, a decrease of 27.2% from the December 15th total of 109,400 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily volume of 132,900 shares, the short-interest ratio is currently 0.6 days.

Zapp Electric Vehicles Group Stock Performance

NASDAQ ZAPP opened at $1.09 on Wednesday. The company has a 50-day simple moving average of $1.55 and a two-hundred day simple moving average of $3.96. Zapp Electric Vehicles Group has a 12-month low of $0.70 and a 12-month high of $19.10.

Analyst Upgrades and Downgrades

ZAPP has been the subject of a number of recent analyst reports. Maxim Group began coverage on Zapp Electric Vehicles Group in a report on Tuesday, October 8th. They set a “buy” rating and a $7.00 target price for the company. BNP Paribas raised shares of Zapp Electric Vehicles Group to a “strong-buy” rating in a research note on Tuesday, October 8th.

Institutional Investors Weigh In On Zapp Electric Vehicles Group

A hedge fund recently bought a new stake in Zapp Electric Vehicles Group stock. Virtu Financial LLC purchased a new position in Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,840 shares of the company’s stock, valued at approximately $40,000. Virtu Financial LLC owned 0.41% of Zapp Electric Vehicles Group at the end of the most recent reporting period.

Zapp Electric Vehicles Group Company Profile

Zapp Electric Vehicles Limited operates an electric motorcycle company. Its i300 is the first in a suite of electric two-wheelers that the company plans to bring to market. It offers a direct-to-customer experience known as DSDTC (drop-ship-direct-to-customer). The company sells its product the i300, to customers online and delivered to the home, as well as provides at-home inspection, service, and support throughout the vehicle ownership lifecycle.