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

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 162,000 shares, a decrease of 69.7% from the January 31st total of 534,200 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily volume of 646,000 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Zapp Electric Vehicles Group

A hedge fund recently bought a new stake in Zapp Electric Vehicles Group stock. Virtu Financial LLC bought a new stake in shares of Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,840 shares of the company’s stock, valued at approximately $40,000. Virtu Financial LLC owned 0.41% of Zapp Electric Vehicles Group as of its most recent SEC filing.

Wall Street Analyst Weigh In

Separately, Maxim Group decreased their target price on shares of Zapp Electric Vehicles Group from $7.00 to $3.00 and set a “buy” rating for the company in a report on Monday, February 3rd.

Zapp Electric Vehicles Group Stock Performance

Shares of NASDAQ ZAPP opened at $0.79 on Friday. Zapp Electric Vehicles Group has a one year low of $0.70 and a one year high of $19.10. The business has a 50-day moving average price of $1.06 and a two-hundred day moving average price of $2.12.

About Zapp Electric Vehicles Group

Zapp Electric Vehicles Group Ltd. engages in the provision of designs, manufactures and sells electric vehicles. It operates through the following geographical segments: Cayman Islands, Europe, and Thailand. It offers maintenance and repair of motorcycles and related parts and accessories. The company was founded by Swin Chatsuwan, Jeremy North, Warin Thanathawee and Kiattipong Arttachariya in 2017 and is headquartered in London, the United Kingdom.