ParaZero Technologies (NASDAQ:PRZO) Stock Price Down 4.6% – Here’s Why

ParaZero Technologies Ltd. (NASDAQ:PRZO)’s share price fell 4.6% on Wednesday . The company traded as low as $1.01 and last traded at $1.03. 500,087 shares traded hands during trading, an increase of 12% from the average session volume of 444,562 shares. The stock had previously closed at $1.08.

Analyst Upgrades and Downgrades

PRZO has been the topic of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ParaZero Technologies in a research report on Wednesday, October 8th. Wall Street Zen lowered ParaZero Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

ParaZero Technologies Stock Down 13.0%

The stock has a fifty day simple moving average of $1.34 and a 200-day simple moving average of $1.45.

ParaZero Technologies Company Profile

ParaZero Technologies (NASDAQ:PRZO) is a provider of safety and risk mitigation systems for unmanned aerial vehicles (UAVs). The company develops integrated flight termination and parachute deployment solutions designed to protect people, property and aircraft in the event of drone failures. Its flagship SafeAir™ product line features automated detection of loss-of-control scenarios, rapid parachute deployment and motor-kill capabilities, enabling safer operations across a range of commercial, industrial and defense applications.

Founded in 2016 and headquartered in Israel, ParaZero has expanded its footprint through partnerships and a network of authorized distributors in North America, Europe and Asia-Pacific.