ZOOZ Power (NASDAQ:ZOOZ) Stock Price Down 0.7% – What’s Next?

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s stock price dropped 0.7% during mid-day trading on Thursday . The stock traded as low as $5.30 and last traded at $5.30. 10,957 shares traded hands during trading, a decline of 43% from the average daily volume of 19,322 shares. The stock had previously closed at $5.34.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZOOZ. Chardan Capital lowered their target price on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Zacks Research downgraded ZOOZ Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ZOOZ Power in a report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $10.00.

ZOOZ Power Stock Performance

The business’s fifty day moving average price is $5.67 and its two-hundred day moving average price is $7.09.

Hedge Funds Weigh In On ZOOZ Power

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its position in shares of ZOOZ Power by 347.7% in the fourth quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock worth $40,000 after buying an additional 71,311 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of ZOOZ Power by 986.6% during the 4th quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock valued at $51,000 after acquiring an additional 105,459 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of ZOOZ Power by 1,122,810.5% during the 3rd quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock valued at $457,000 after acquiring an additional 213,334 shares during the last quarter. Velan Capital Investment Management LP bought a new position in shares of ZOOZ Power in the 3rd quarter valued at approximately $4,280,000. Finally, Pantera Capital Partners LP bought a new position in shares of ZOOZ Power in the 4th quarter valued at approximately $1,867,000. 38.06% of the stock is currently owned by institutional investors.

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.