Zacks Research Downgrades ZOOZ Power (NASDAQ:ZOOZ) to Strong Sell

ZOOZ Power (NASDAQ:ZOOZ) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on ZOOZ. Chardan Capital dropped their target price on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating for the company in a report on Friday, June 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ZOOZ Power in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $10.00.

ZOOZ Power Trading Up 5.1%

Shares of ZOOZ Power stock opened at $5.59 on Tuesday. The stock has a 50 day moving average price of $5.91 and a 200-day moving average price of $7.57. ZOOZ Power has a one year low of $4.55 and a one year high of $101.20.

Hedge Funds Weigh In On ZOOZ Power

A number of large investors have recently bought and sold shares of the business. Arrington Capital Management LLC bought a new position in ZOOZ Power in the 4th quarter valued at $4,366,000. MMCAP International Inc. SPC bought a new position in ZOOZ Power in the 4th quarter valued at $3,066,000. Bank of Montreal Can bought a new position in ZOOZ Power in the 4th quarter valued at $3,066,000. Pantera Capital Partners LP bought a new position in ZOOZ Power in the 4th quarter valued at $1,867,000. Finally, Velan Capital Investment Management LP bought a new position in ZOOZ Power in the 3rd quarter valued at $4,280,000. Hedge funds and other institutional investors own 38.06% of the company’s stock.

About ZOOZ Power

ZOOZ Power Ltd. engages in developing, manufacturing, marketing, and selling energy store solutions for electric vehicles in Israel, Germany, the United Kingdom, and the United States. It offers ZOOZTER-100, a kinetic power booster based on flywheel technology designed to enable sustainable and cost-effective rollout of ultra-fast electric vehicle charging stations in areas where the grid is power-limited. The company was formerly known as Chakratec Ltd. and changed its name to ZOOZ Power Ltd. in March 2021.