ZOOZ Power Ltd. (NASDAQ:ZOOZ) Sees Significant Drop in Short Interest

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 125,813 shares, a decrease of 22.7% from the February 26th total of 162,808 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 213,512 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZOOZ. Chardan Capital reissued a “buy” rating and set a $2.00 target price on shares of ZOOZ Power in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of ZOOZ Power in a report on Friday, January 9th. Finally, Zacks Research upgraded ZOOZ Power to a “hold” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.00.

ZOOZ Power Price Performance

ZOOZ traded up $0.00 during midday trading on Tuesday, hitting $0.31. 57,277 shares of the company were exchanged, compared to its average volume of 284,574. The company’s 50 day simple moving average is $0.40 and its 200 day simple moving average is $0.85. ZOOZ Power has a 1-year low of $0.30 and a 1-year high of $5.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrington Capital Management LLC acquired a new stake in shares of ZOOZ Power in the fourth quarter valued at approximately $4,366,000. MMCAP International Inc. SPC acquired a new position in ZOOZ Power during the fourth quarter worth $3,066,000. Bank of Montreal Can purchased a new stake in ZOOZ Power in the 4th quarter valued at $3,066,000. Pantera Capital Partners LP purchased a new stake in ZOOZ Power in the 4th quarter valued at $1,867,000. Finally, Velan Capital Investment Management LP acquired a new stake in shares of ZOOZ Power in the 3rd quarter worth $4,280,000. Hedge funds and other institutional investors own 38.06% of the company’s stock.

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.