ZOOZ Power (NASDAQ:ZOOZ) Stock Price Down 0.9% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZOOZ. Zacks Research cut ZOOZ Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. Chardan Capital lowered their target price on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Finally, Weiss Ratings raised shares of ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ZOOZ Power currently has a consensus rating of “Reduce” and a consensus target price of $10.00.

ZOOZ Power Trading Up 3.8%

The stock has a fifty day moving average of $5.39 and a 200-day moving average of $6.50.

Institutional Trading of ZOOZ Power

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its stake in ZOOZ Power by 347.7% in 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 period. XTX Topco Ltd boosted its position in ZOOZ Power by 986.6% in the 4th 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 period. Bank of America Corp DE boosted its position in ZOOZ Power by 1,122,810.5% in the 3rd 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 period. Velan Capital Investment Management LP bought a new position in ZOOZ Power in the 3rd quarter worth about $4,280,000. Finally, Pantera Capital Partners LP purchased a new position in ZOOZ Power during the 4th quarter worth $1,867,000. 38.06% of the stock is owned by hedge funds and other institutional investors.

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.