Forza X1, Inc. (NASDAQ:FRZA – Get Free Report) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 85,200 shares, a decline of 38.6% from the September 15th total of 138,700 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 237,700 shares, the days-to-cover ratio is currently 0.4 days.
Insiders Place Their Bets
In other Forza X1 news, Director Kevin Schuyler bought 90,668 shares of the stock in a transaction on Tuesday, September 17th. The stock was purchased at an average price of $0.30 per share, with a total value of $27,200.40. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at $30,000. The trade was a 900.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders acquired 199,048 shares of company stock valued at $56,366. 13.92% of the stock is currently owned by corporate insiders.
Forza X1 Stock Down 22.1 %
Shares of NASDAQ FRZA opened at $0.19 on Monday. The stock has a 50-day moving average price of $0.26 and a two-hundred day moving average price of $0.35. Forza X1 has a 12 month low of $0.17 and a 12 month high of $0.70. The company has a current ratio of 14.62, a quick ratio of 14.16 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.99 million, a price-to-earnings ratio of -0.54 and a beta of 2.09.
Forza X1 Company Profile
Forza X1, Inc focuses on designing, developing, and manufacturing electric boats in the United States. It intends to offer its products through a vertically integrated direct-to-consumer system. Forza X1, Inc was incorporated in 2021 and is headquartered in Fort Pierce, Florida.
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