Zacks Research Upgrades ZOOZ Power (NASDAQ:ZOOZ) to “Hold”

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

Other equities research analysts have also issued research reports about the stock. Weiss Ratings raised shares of ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. Chardan Capital cut their target price on shares of ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ZOOZ Power currently has an average rating of “Hold” and a consensus price target of $10.00.

ZOOZ Power Trading Up 0.9%

NASDAQ:ZOOZ opened at $5.35 on Tuesday. The firm’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $6.38. ZOOZ Power has a 1 year low of $4.55 and a 1 year high of $101.20.

Institutional Investors Weigh In On ZOOZ Power

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its holdings in shares of ZOOZ Power by 347.7% during the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after purchasing an additional 71,311 shares during the last quarter. XTX Topco Ltd grew its stake in shares of ZOOZ Power by 986.6% during the fourth 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 shares of ZOOZ Power by 1,122,810.5% during the third 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 acquired a new position in shares of ZOOZ Power during the third quarter worth $4,280,000. Finally, Pantera Capital Partners LP acquired a new position in shares of ZOOZ Power during the fourth quarter worth $1,867,000. Institutional investors and hedge funds own 38.06% of the company’s stock.

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.