In the meantime, JP Morgan upgraded its ZIM Integrated Shipping Services Ltd. [ZIM] rating to an Overweight from a a Neutral in a research note published on Tuesday, February 17, 2023; the price target was increased to $30.40 from $17.60. PT values the company’s stock at a premium of 24.28 to its Tuesday closing price. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in mid February from “an Equal weight” to “an Underweight”. Citigroup also remained covering ZIM and has decreased its forecast on August 22, 2022 with a “Neutral” recommendation from previously “Buy” rating. Jefferies started covering the stock on July 21, 2022. It rated ZIM as “a Hold”.
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Price Performance Review of ZIM
On Tuesday, ZIM Integrated Shipping Services Ltd. [NYSE:ZIM] saw its stock jump 10.35% to $23.02. On the same session, the stock had its day’s lowest price of $21.44, but rose to a high of $23.24. Over the last five days, the stock has gained 6.43%. ZIM Integrated Shipping Services Ltd. shares have risen nearly 33.92% since the year began. Nevertheless, the stocks have fallen -70.79% over the past one year. While a 52-week high of $91.23 was reached on 02/28/23, a 52-week low of $16.23 was recorded on 01/05/23. SMA at 50 days reached $20.27, while 200 days put it at $31.87. A total of 8.63 million shares were traded, compared to the trading of 5.01 million shares in the previous session.
Levels Of Support And Resistance For ZIM Stock
The 24-hour chart illustrates a support level at 21.89, which if violated will result in even more drops to 20.77. On the upside, there is a resistance level at 23.69. A further resistance level may holdings at 24.37. The Relative Strength Index (RSI) on the 14-day chart is 57.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.86%. Stochastics %K at 32.22% indicates the stock is a holding.
How much short interest is there in ZIM Integrated Shipping Services Ltd.?
A steep rise in short interest was recorded in ZIM Integrated Shipping Services Ltd. stocks on Jan 12, 2023, growing by 2.12 million shares to a total of 18.02 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 15.9 million shares. There was a rise of 11.76%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 20.55% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.06.
ZIM Integrated Shipping Services Ltd. [ZIM] – Who Are The Largest Shareholders?
In filings from Arrowstreet Capital LP, it is revealed that the company now owns 3,206,542 shares, or roughly 2.67% of the outstanding ZIM shares. In other words, the investor’s shares have fallen by -675,620 from its previous 13-F filing of 3882162.0. Additionally, Renaissance Technologies LLC decreased -8.68% of its stake after which the total value it holdings stand at $65,087,288, while Altshuler Shaham Mutual Funds Man added 0.56% of its stake to hold $60.7 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 802 shares of ZIM Integrated Shipping Services Ltd., while Menora Mivtachim Insurance Ltd. bought 0 shares. At present, Harel Mutual Funds Ltd. is holding 1,943,689 shares valued at $45.99 million. SSgA Funds Management, Inc. owned 1,579,371 shares of the company at the time of its most recent 13F filing, worth $37.37 million.
However, 6 analysts have rated ZIM stock as an Underweight in their predictions for 2023.