Zoomcar (NASDAQ:ZCAR) Trading 19% Higher – Here’s Why

Shares of Zoomcar Holdings, Inc. (NASDAQ:ZCAR) shot up 19% on Monday . The stock traded as high as $7.26 and last traded at $6.25. 144,061 shares traded hands during mid-day trading, an increase of 233% from the average session volume of 43,272 shares. The stock had previously closed at $5.25.

Zoomcar Price Performance

The company’s 50 day moving average is $1.18 and its 200-day moving average is $5.30.

Zoomcar (NASDAQ:ZCAR) last posted its quarterly earnings results on Friday, February 14th. The company reported ($71.20) EPS for the quarter. The firm had revenue of $2.45 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Zoomcar stock. Virtu Financial LLC acquired a new position in Zoomcar Holdings, Inc. (NASDAQ:ZCAR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,529 shares of the company’s stock, valued at approximately $30,000. Virtu Financial LLC owned approximately 0.80% of Zoomcar at the end of the most recent reporting period. Institutional investors and hedge funds own 3.71% of the company’s stock.

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.