ZOOZ Power (NASDAQ:ZOOZ) Upgraded by Zacks Research to Hold Rating

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

A number of other analysts also recently commented on the company. Weiss Ratings raised ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Chardan Capital reduced their price objective on shares of ZOOZ Power from $40.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.00.

ZOOZ Power Stock Performance

ZOOZ Power stock opened at $5.35 on Tuesday. The stock’s 50 day moving average price is $5.35 and its two-hundred day moving average price is $6.38. ZOOZ Power has a 52-week low of $4.55 and a 52-week high of $101.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC raised its stake in ZOOZ Power by 347.7% during the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after buying an additional 71,311 shares during the last quarter. XTX Topco Ltd raised its position in shares of ZOOZ Power by 986.6% during the fourth quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock valued at $51,000 after buying an additional 105,459 shares during the last quarter. Bank of America Corp DE boosted its stake in ZOOZ Power by 1,122,810.5% during the third quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock valued at $457,000 after buying an additional 213,334 shares during the last quarter. Velan Capital Investment Management LP purchased a new position in ZOOZ Power during the 3rd quarter valued at approximately $4,280,000. Finally, Pantera Capital Partners LP bought a new stake in shares of ZOOZ Power in the 4th quarter worth about $1,867,000. 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.