ICZOOM Group Inc. (NASDAQ:IZM – Get Free Report) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 158,864 shares, a drop of 49.6% from the June 15th total of 315,481 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 133,364 shares, the short-interest ratio is presently 1.2 days.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in shares of ICZOOM Group in the third quarter worth $57,000. Jane Street Group LLC bought a new stake in shares of ICZOOM Group during the fourth quarter valued at about $45,000. Finally, XTX Topco Ltd bought a new stake in shares of ICZOOM Group during the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 34.25% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of ICZOOM Group in a research report on Monday, July 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.
ICZOOM Group Stock Performance
Shares of IZM traded up $0.04 during mid-day trading on Wednesday, reaching $0.31. 1,649,331 shares of the company’s stock traded hands, compared to its average volume of 1,380,364. The business’s 50-day moving average price is $0.39 and its 200-day moving average price is $0.79. ICZOOM Group has a 12 month low of $0.26 and a 12 month high of $2.74.
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.
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