ZOOZ Power Ltd. (NASDAQ:ZOOZ) Given Average Recommendation of “Hold” by Brokerages

Shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) have earned an average recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $3.50.

ZOOZ has been the topic of several recent research reports. Zacks Research raised ZOOZ Power to a “hold” rating in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of ZOOZ Power in a research note on Friday, January 9th. Finally, Chardan Capital started coverage on shares of ZOOZ Power in a report on Tuesday, January 20th. They set a “buy” rating and a $2.00 price target on the stock.

ZOOZ Power Stock Down 0.1%

Shares of ZOOZ Power stock opened at $0.48 on Tuesday. The stock’s fifty day moving average is $0.49 and its 200 day moving average is $1.32. ZOOZ Power has a one year low of $0.37 and a one year high of $5.06.

Institutional Investors Weigh In On ZOOZ Power

An institutional investor recently bought a new position in ZOOZ Power stock. Velan Capital Investment Management LP purchased a new stake in shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,000,000 shares of the company’s stock, valued at approximately $4,280,000. ZOOZ Power accounts for about 4.0% of Velan Capital Investment Management LP’s portfolio, making the stock its 10th biggest position. Velan Capital Investment Management LP owned approximately 16.57% of ZOOZ Power as of its most recent SEC filing. 38.06% of the stock is 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.