Short Interest in ICZOOM Group Inc. (NASDAQ:IZM) Drops By 49.6%

ICZOOM Group Inc. (NASDAQ:IZM) was the target of a large drop in short interest in the month of 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 shares are short sold. Based on an average daily trading volume, of 133,364 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On ICZOOM Group

Several large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of ICZOOM Group during the fourth quarter worth $48,000. Jane Street Group LLC bought a new stake in ICZOOM Group in the 4th quarter valued at $45,000. Finally, Susquehanna International Group LLP acquired a new position in ICZOOM Group in the 3rd quarter worth $57,000. Institutional investors own 34.25% of the company’s stock.

ICZOOM Group Stock Performance

IZM stock traded down $0.02 during mid-day trading on Thursday, hitting $0.30. 226,975 shares of the company were exchanged, compared to its average volume of 1,371,880. The firm’s 50 day simple moving average is $0.39 and its 200 day simple moving average is $0.77. ICZOOM Group has a 1-year low of $0.26 and a 1-year high of $2.74.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of ICZOOM Group in a research note on Monday, July 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock 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.