Short Interest in ZOOZ Power Ltd. (NASDAQ:ZOOZ) Decreases By 42.1%

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 7,448 shares, a drop of 42.1% from the June 15th total of 12,856 shares. Based on an average daily trading volume, of 29,243 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are short sold.

ZOOZ Power Stock Performance

ZOOZ opened at $5.27 on Thursday. The firm has a 50-day moving average of $5.60 and a 200 day moving average of $7.01. ZOOZ Power has a fifty-two week low of $4.55 and a fifty-two week high of $101.20.

Wall Street Analyst Weigh In

Several analysts have commented on ZOOZ shares. Chardan Capital dropped their target price on shares of ZOOZ Power from $40.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of ZOOZ Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $10.00.

Institutional Investors Weigh In On ZOOZ Power

Several institutional investors have recently added to or reduced their stakes in the company. Arrington Capital Management LLC bought a new position in ZOOZ Power during the 4th quarter valued at approximately $4,366,000. MMCAP International Inc. SPC bought a new stake in ZOOZ Power during the 4th quarter valued at about $3,066,000. Bank of Montreal Can purchased a new position in ZOOZ Power in the fourth quarter worth about $3,066,000. Pantera Capital Partners LP purchased a new position in ZOOZ Power in the 4th quarter worth approximately $1,867,000. Finally, Velan Capital Investment Management LP bought a new position in shares of ZOOZ Power during the third quarter valued at $4,280,000. Hedge funds and other 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.