Zapp Electric Vehicles Group (NASDAQ:ZAPP) Shares Down 46.3% – What’s Next?

Shares of Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) fell 46.3% during trading on Wednesday . The stock traded as low as $0.14 and last traded at $0.15. 13,376,264 shares traded hands during mid-day trading, an increase of 439% from the average session volume of 2,479,881 shares. The stock had previously closed at $0.29.

Wall Street Analysts Forecast Growth

Separately, Maxim Group reaffirmed a “hold” rating on shares of Zapp Electric Vehicles Group in a research report on Tuesday, May 20th.

Zapp Electric Vehicles Group Trading Down 46.3%

The company’s fifty day moving average price is $0.24 and its 200 day moving average price is $0.70.

Institutional Investors Weigh In On Zapp Electric Vehicles Group

A hedge fund recently bought a new stake in Zapp Electric Vehicles Group stock. Renaissance Technologies LLC bought a new stake in shares of Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 40,556 shares of the company’s stock, valued at approximately $52,000. Renaissance Technologies LLC owned 1.30% of Zapp Electric Vehicles Group as of its most recent filing with the Securities and Exchange Commission.

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.