ICZOOM Group Inc. (NASDAQ:IZM) Short Interest Down 49.6% in June

ICZOOM Group Inc. (NASDAQ:IZM) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 158,864 shares, a decline of 49.6% from the June 15th total of 315,481 shares. Based on an average daily trading volume, of 133,364 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On ICZOOM Group

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

Analyst Ratings Changes

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

ICZOOM Group Price Performance

NASDAQ IZM traded up $0.04 on Wednesday, hitting $0.31. 1,649,331 shares of the company were exchanged, compared to its average volume of 1,380,364. ICZOOM Group has a twelve month low of $0.26 and a twelve month high of $2.74. The company’s 50 day moving average price is $0.39 and its 200-day moving average price is $0.79.

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.