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

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 534,200 shares, a growth of 1,807.9% from the January 15th total of 28,000 shares. Currently, 20.0% of the shares of the stock are short sold. Based on an average daily volume of 630,900 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Separately, Maxim Group reduced 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 Up 6.6 %

Shares of Zapp Electric Vehicles Group stock opened at $0.80 on Thursday. Zapp Electric Vehicles Group has a 12-month low of $0.70 and a 12-month high of $19.10. The stock’s fifty day moving average is $1.24 and its 200-day moving average is $2.79.

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 position in Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,840 shares of the company’s stock, valued at approximately $40,000. Virtu Financial LLC owned approximately 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 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.