ZOOZ Power (NASDAQ:ZOOZ) Price Target Lowered to $10.00 at Chardan Capital

ZOOZ Power (NASDAQ:ZOOZ) had its price objective cut by analysts at Chardan Capital from $40.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s target price would suggest a potential upside of 80.05% from the company’s current price.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

ZOOZ Power Stock Performance

Shares of ZOOZ traded up $0.35 during trading on Friday, reaching $5.55. The company’s stock had a trading volume of 739 shares, compared to its average volume of 19,208. The company has a fifty day moving average of $5.96 and a two-hundred day moving average of $7.73. ZOOZ Power has a twelve month low of $5.00 and a twelve month high of $101.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in shares of ZOOZ Power by 347.7% during the fourth 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 lifted its holdings 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 valued at $51,000 after purchasing an additional 105,459 shares during the last quarter. Bank of America Corp DE lifted its holdings 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 valued at $457,000 after purchasing an additional 213,334 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of ZOOZ Power during the third quarter valued at $4,280,000. Finally, Pantera Capital Partners LP purchased a new stake in ZOOZ Power in the 4th quarter worth about $1,867,000. Institutional investors 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.