Forza X1, Inc. (NASDAQ:FRZA – Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 85,200 shares, a decline of 38.6% from the September 15th total of 138,700 shares. Based on an average daily volume of 237,700 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.0% of the shares of the company are sold short.
Insiders Place Their Bets
In related news, Director Kevin Schuyler bought 90,668 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was bought at an average price of $0.30 per share, for a total transaction of $27,200.40. Following the purchase, the director now owns 100,000 shares in the company, valued at $30,000. This represents a 900.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 199,048 shares of company stock valued at $56,366 over the last ninety days. 13.92% of the stock is currently owned by company insiders.
Forza X1 Stock Performance
NASDAQ:FRZA opened at $0.19 on Monday. The stock has a 50 day simple moving average of $0.26 and a 200 day simple moving average of $0.35. The stock has a market cap of $2.99 million, a P/E ratio of -0.54 and a beta of 2.09. Forza X1 has a 1-year low of $0.17 and a 1-year high of $0.70. The company has a current ratio of 14.62, a quick ratio of 14.16 and a debt-to-equity ratio of 0.01.
About Forza X1
Forza X1, Inc focuses on designing, developing, and manufacturing electric boats in the United States. It intends to offer its products through a vertically integrated direct-to-consumer system. Forza X1, Inc was incorporated in 2021 and is headquartered in Fort Pierce, Florida.
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