Short Interest in Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) Drops By 54.0%

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 77,100 shares, a decrease of 54.0% from the October 15th total of 167,600 shares. Based on an average daily volume of 181,100 shares, the short-interest ratio is presently 0.4 days. Approximately 2.9% of the company’s shares are short sold.

Analyst Ratings Changes

Several brokerages recently commented on ZAPP. BNP Paribas raised shares of Zapp Electric Vehicles Group to a “strong-buy” rating in a research report on Tuesday, October 8th. Maxim Group began coverage on shares of Zapp Electric Vehicles Group in a research report on Tuesday, October 8th. They set a “buy” rating and a $7.00 price target for the company.

Zapp Electric Vehicles Group Stock Down 1.6 %

Shares of ZAPP stock opened at $1.85 on Friday. Zapp Electric Vehicles Group has a one year low of $0.70 and a one year high of $19.10. The company has a 50 day moving average price of $2.71 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.