ZOOZ Power (NASDAQ:ZOOZ) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of ZOOZ Power (NASDAQ:ZOOZ) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on ZOOZ. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. Chardan Capital cut their target price on 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 issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, ZOOZ Power has a consensus rating of “Reduce” and an average price target of $10.00.

ZOOZ Power Price Performance

Shares of NASDAQ ZOOZ opened at $5.59 on Tuesday. The business has a 50 day simple moving average of $5.91 and a 200 day simple moving average of $7.57. ZOOZ Power has a 52 week low of $4.55 and a 52 week high of $101.20.

Institutional Investors Weigh In On ZOOZ Power

Institutional investors have recently bought and sold shares of the company. Velan Capital Investment Management LP acquired a new position in shares of ZOOZ Power during the 3rd quarter worth approximately $4,280,000. Bank of Montreal Can acquired a new position in shares of ZOOZ Power during the 4th quarter worth approximately $3,066,000. Pantera Capital Partners LP acquired a new position in shares of ZOOZ Power during the 4th quarter worth approximately $1,867,000. Bank of America Corp DE increased its holdings in shares of ZOOZ Power by 1,122,810.5% during the 3rd quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock worth $457,000 after acquiring an additional 213,334 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of ZOOZ Power by 986.6% during the 4th quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after acquiring an additional 105,459 shares during the last quarter. Institutional investors own 38.06% of the company’s stock.

ZOOZ Power Company Profile

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.