ZOOZ Power (NASDAQ:ZOOZ) Shares Down 13.6% – Here’s What Happened

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s share price fell 13.6% on Thursday. The company traded as low as $5.00 and last traded at $5.1830. Approximately 8,097 shares were traded during trading, a decline of 39% from the average session volume of 13,206 shares. The stock had previously closed at $6.00.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ZOOZ shares. Chardan Capital reissued a “buy” rating and issued a $10.00 target price on shares of ZOOZ Power in a report on Wednesday, August 26th. Zacks Research upgraded shares of ZOOZ Power from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ZOOZ Power currently has an average rating of “Hold” and a consensus target price of $10.00.

ZOOZ Power Stock Performance

The firm’s 50-day simple moving average is $6.82 and its 200 day simple moving average is $6.51.

ZOOZ Power Company Profile

ZOOZ Power Ltd. (NASDAQ: ZOOZ) is an Israeli energy technology company that develops high-power energy storage systems based on kinetic, flywheel-based technology. Its systems are designed to store and deliver electricity rapidly, supporting applications that require frequent charging and discharging without relying on conventional electrochemical batteries.

The company’s products are intended primarily for electric vehicle charging infrastructure. Its energy storage systems can help provide high-power charging where the local electrical grid has limited capacity, while also supporting grid stability, power quality, and other short-duration energy management applications.