Short Interest in Zoomcar Holdings, Inc. (NASDAQ:ZCAR) Drops By 94.2%

Zoomcar Holdings, Inc. (NASDAQ:ZCAR) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 27,900 shares, a decline of 94.2% from the February 28th total of 477,700 shares. Based on an average daily volume of 121,700 shares, the days-to-cover ratio is presently 0.2 days. Approximately 1.4% of the shares of the stock are sold short.

Zoomcar Trading Down 7.9 %

Shares of Zoomcar stock traded down $0.42 during trading on Wednesday, reaching $4.88. 77,662 shares of the stock traded hands, compared to its average volume of 43,937. Zoomcar has a 52-week low of $4.26 and a 52-week high of $1,260.00. The business has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $5.30.

Zoomcar (NASDAQ:ZCAR) last released its quarterly earnings results on Friday, February 14th. The company reported ($71.20) earnings per share for the quarter. The business had revenue of $2.45 million during the quarter.

Institutional Investors Weigh In On Zoomcar

An institutional investor recently bought a new position in Zoomcar stock. Virtu Financial LLC purchased a new position in shares of Zoomcar Holdings, Inc. (NASDAQ:ZCAR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,529 shares of the company’s stock, valued at approximately $30,000. Virtu Financial LLC owned 0.80% of Zoomcar at the end of the most recent quarter. 3.71% of the stock is owned by institutional investors.

Zoomcar Company Profile

Zoomcar Holdings, Inc operates a marketplace for car sharing in India, Indonesia, and Egypt. The company connects hosts with guests, who choose from a selection of cars for use at affordable prices, promoting smart transportation solutions. Its platform offers vehicle searching and discovery, host and guest chat, vehicle and driver tracking, and ratings services.