Short Interest in Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) Grows By 63.9%

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 94,100 shares, a growth of 63.9% from the November 15th total of 57,400 shares. Based on an average trading volume of 134,900 shares, the short-interest ratio is presently 0.7 days. Currently, 2.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

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) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

ZAPP has been the topic of a number of analyst reports. Maxim Group initiated coverage on shares of Zapp Electric Vehicles Group in a research note 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 note on Tuesday, October 8th.

Zapp Electric Vehicles Group Price Performance

ZAPP stock opened at $1.55 on Thursday. Zapp Electric Vehicles Group has a 12 month low of $0.70 and a 12 month high of $19.10. The firm has a 50-day moving average price of $2.15 and a 200-day moving average price of $3.96.

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.