Short Interest in ICZOOM Group Inc. (NASDAQ:IZM) Drops By 24.4%

ICZOOM Group Inc. (NASDAQ:IZM) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 73,893 shares, a decline of 24.4% from the December 31st total of 97,684 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 126,897 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 126,897 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.9% of the company’s shares are sold short.

Institutional Trading of ICZOOM Group

A hedge fund recently bought a new stake in ICZOOM Group stock. Susquehanna International Group LLP bought a new position in shares of ICZOOM Group Inc. (NASDAQ:IZM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,056 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.30% of ICZOOM Group at the end of the most recent quarter. 34.25% of the stock is currently owned by hedge funds and other institutional investors.

ICZOOM Group Stock Performance

ICZOOM Group stock traded up $0.02 during midday trading on Tuesday, reaching $1.09. 16,220 shares of the stock traded hands, compared to its average volume of 79,240. The company has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $1.93. ICZOOM Group has a 12-month low of $0.87 and a 12-month high of $2.74.

ICZOOM Group (NASDAQ:IZM) last issued its quarterly earnings results on Friday, October 24th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $48.35 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of ICZOOM Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

ICZOOM Group Company Profile

iCZOOM Group (NASDAQ:IZM) operates as a China-based industrial equipment manufacturer focused on the design, development and sale of advanced CNC machine tools and integrated automation systems. Through its subsidiary network, the company delivers precision machining solutions for a variety of manufacturing processes, from heavy-duty milling to high-speed drilling and tapping.

The company’s product lineup includes large-scale gantry CNC machining centers, horizontal and vertical machining centers, multi-axis CNC milling machines, precision metal cutting equipment and turnkey automated production lines.