zSpace, Inc (NASDAQ:ZSPC) Sees Significant Decrease in Short Interest

zSpace, Inc (NASDAQ:ZSPC) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 433,764 shares, a drop of 35.6% from the January 15th total of 673,161 shares. Based on an average daily volume of 1,017,528 shares, the short-interest ratio is presently 0.4 days. Approximately 3.4% of the shares of the stock are short sold. Approximately 3.4% of the shares of the stock are short sold. Based on an average daily volume of 1,017,528 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in zSpace in the third quarter worth approximately $25,000. HRT Financial LP purchased a new position in shares of zSpace in the 4th quarter worth $27,000. XTX Topco Ltd purchased a new position in shares of zSpace in the 2nd quarter worth $39,000. Geode Capital Management LLC grew its holdings in shares of zSpace by 134.0% in the fourth quarter. Geode Capital Management LLC now owns 119,014 shares of the company’s stock worth $56,000 after acquiring an additional 68,150 shares during the period. Finally, Jane Street Group LLC bought a new position in zSpace in the fourth quarter valued at about $57,000.

zSpace Stock Performance

Shares of NASDAQ ZSPC opened at $0.25 on Friday. The firm’s 50 day moving average price is $0.48 and its 200-day moving average price is $1.10. zSpace has a 52-week low of $0.24 and a 52-week high of $26.79. The company has a market cap of $7.35 million, a PE ratio of -0.32 and a beta of -0.55.

zSpace (NASDAQ:ZSPC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). The company had revenue of $8.79 million for the quarter, compared to the consensus estimate of $8.43 million.

Analysts Set New Price Targets

Several research firms recently issued reports on ZSPC. Wall Street Zen lowered zSpace from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Northland Securities downgraded zSpace from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (e+)” rating on shares of zSpace in a research report on Wednesday, January 21st. Finally, Barrington Research lowered their target price on shares of zSpace from $5.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.00.

About zSpace

zSpace, Inc is a technology company that develops augmented and virtual reality solutions designed to deliver immersive learning experiences. Headquartered in Pleasanton, California, the company focuses on integrating advanced 3D visualization hardware and interactive software to support science, technology, engineering and mathematics (STEM) education, as well as professional training applications.

The company’s flagship offering, the zSpace AR/VR system, combines a stereoscopic display, stylus-based interaction and head-tracking technology to enable users to manipulate and explore three-dimensional models.