Zapp Electric Vehicles Group (NASDAQ:ZAPP) Stock Price Down 9.7% – Here’s Why

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) shares dropped 9.7% on Friday . The company traded as low as $0.87 and last traded at $0.87. Approximately 146,894 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 2,235,819 shares. The stock had previously closed at $0.97.

Analyst Upgrades and Downgrades

Separately, Maxim Group decreased their price objective on shares of Zapp Electric Vehicles Group from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, February 3rd.

Zapp Electric Vehicles Group Stock Performance

The firm has a 50 day moving average of $0.92 and a two-hundred day moving average of $1.75.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Zapp Electric Vehicles Group stock. Virtu Financial LLC acquired a new stake in Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 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.

About Zapp Electric Vehicles Group

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.