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

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 179,400 shares, a decrease of 57.8% from the July 31st total of 425,100 shares. Based on an average daily volume of 7,680,000 shares, the short-interest ratio is currently 0.0 days. Currently, 6.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Litchfield Hills Research upgraded Zapp Electric Vehicles Group to a “strong-buy” rating in a research report on Monday, July 1st.

Zapp Electric Vehicles Group Trading Up 1.7 %

Shares of ZAPP opened at $4.10 on Wednesday. Zapp Electric Vehicles Group has a 1 year low of $0.70 and a 1 year high of $39.60. The stock has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $4.78.

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.