ZOOZ Power (NASDAQ:ZOOZ) Stock Price Down 0.9% – What’s Next?

Shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) were down 0.9% during mid-day trading on Thursday . The stock traded as low as $5.07 and last traded at $5.1750. 2,084 shares were traded during trading, a decline of 68% from the average session volume of 6,615 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

ZOOZ has been the topic of several recent analyst reports. Chardan Capital reduced their target price on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, June 12th. Zacks Research downgraded ZOOZ Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings raised ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ZOOZ Power currently has an average rating of “Reduce” and an average price target of $10.00.

ZOOZ Power Price Performance

The company has a 50 day moving average price of $5.40 and a 200 day moving average price of $6.51.

Hedge Funds Weigh In On ZOOZ Power

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in ZOOZ Power during the 4th quarter worth approximately $3,066,000. Velan Capital Investment Management LP acquired a new stake in shares of ZOOZ Power in the third quarter valued at approximately $4,280,000. XTX Topco Ltd lifted its position in shares of ZOOZ Power by 986.6% in the fourth quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after purchasing an additional 105,459 shares in the last quarter. Pantera Capital Partners LP bought a new stake in shares of ZOOZ Power in the fourth quarter worth $1,867,000. Finally, Jane Street Group LLC boosted its holdings in ZOOZ Power by 347.7% during the fourth quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock worth $40,000 after purchasing an additional 71,311 shares during the last quarter. Institutional investors and hedge funds 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.