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

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Maxim Group initiated coverage on Zapp Electric Vehicles Group in a report on Tuesday, October 8th. They set a “buy” rating and a $7.00 price objective on the stock. BNP Paribas upgraded shares of Zapp Electric Vehicles Group to a “strong-buy” rating in a research report on Tuesday, October 8th.

Zapp Electric Vehicles Group Trading Up 2.7 %

ZAPP opened at $1.10 on Friday. The stock has a 50-day moving average of $1.52 and a 200 day moving average of $3.92. Zapp Electric Vehicles Group has a 12 month low of $0.70 and a 12 month high of $19.10.

Institutional Investors Weigh In On Zapp Electric Vehicles Group

An institutional investor recently bought a new position in Zapp Electric Vehicles Group stock. Virtu Financial LLC bought a new stake in shares of Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,840 shares of the company’s stock, valued at approximately $40,000. Virtu Financial LLC owned about 0.41% of Zapp Electric Vehicles Group as of its most recent filing with the Securities & Exchange Commission.

About Zapp Electric Vehicles Group

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.