ICZOOM Group Inc. (NASDAQ:IZM) Sees Significant Increase in Short Interest

ICZOOM Group Inc. (NASDAQ:IZM) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 315,481 shares, a growth of 593.0% from the May 31st total of 45,526 shares. Based on an average daily trading volume, of 2,395,559 shares, the short-interest ratio is presently 0.1 days. Approximately 3.9% of the shares of the stock are sold short.

ICZOOM Group Price Performance

Shares of ICZOOM Group stock remained flat at $0.32 during trading on Friday. The stock had a trading volume of 50,476 shares, compared to its average volume of 1,242,049. The firm’s 50-day moving average price is $0.40 and its two-hundred day moving average price is $0.87. ICZOOM Group has a 52-week low of $0.31 and a 52-week high of $2.74.

Hedge Funds Weigh In On ICZOOM Group

A number of hedge funds and other institutional investors have recently made changes to their positions in IZM. Jane Street Group LLC purchased a new position in shares of ICZOOM Group in the fourth quarter worth $45,000. XTX Topco Ltd purchased a new stake in shares of ICZOOM Group in the 4th quarter valued at approximately $48,000. Finally, Susquehanna International Group LLP acquired a new stake in ICZOOM Group in the 3rd quarter valued at approximately $57,000. Institutional investors own 34.25% of the company’s stock.

About ICZOOM Group

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.