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

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

Several other equities research analysts have also issued reports on ZOOZ. Weiss Ratings reissued a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. Chardan Capital lowered their price objective 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 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $10.00.

ZOOZ Power Price Performance

ZOOZ stock opened at $5.59 on Tuesday. ZOOZ Power has a 12-month low of $4.55 and a 12-month high of $101.20. The stock’s 50 day simple moving average is $5.91 and its 200 day simple moving average is $7.57.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew 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 worth $40,000 after buying an additional 71,311 shares during the last quarter. XTX Topco Ltd grew its stake in 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 buying an additional 105,459 shares during the last quarter. Bank of America Corp DE grew its stake in 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 buying an additional 213,334 shares during the last quarter. Velan Capital Investment Management LP bought a new position in ZOOZ Power during the 3rd quarter worth $4,280,000. Finally, Pantera Capital Partners LP bought a new position in ZOOZ Power during the 4th quarter worth $1,867,000. 38.06% of the stock is currently owned by institutional investors.

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.