Zapp Electric Vehicles Group (NASDAQ:ZAPP) Shares Down 46.3% – Should You Sell?

Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP)’s stock price fell 46.3% during trading on Tuesday . The stock traded as low as $0.14 and last traded at $0.15. 13,376,264 shares traded hands during trading, an increase of 322% from the average session volume of 3,170,774 shares. The stock had previously closed at $0.29.

Analysts Set New Price Targets

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

Zapp Electric Vehicles Group Stock Performance

The firm’s 50-day moving average is $0.39 and its 200-day moving average is $0.86.

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 acquired a new position in Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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 & 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.