ZOOZ Power Ltd. (NASDAQ:ZOOZ) Short Interest Down 38.2% in May

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 242,393 shares, a drop of 38.2% from the May 14th total of 392,315 shares. Based on an average daily volume of 292,054 shares, the days-to-cover ratio is currently 0.8 days. Approximately 6.8% of the company’s stock are sold short.

Analyst Ratings Changes

Several equities research analysts recently commented on ZOOZ shares. Chardan Capital cut their price target on shares of ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ZOOZ Power in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

ZOOZ Power Price Performance

Shares of ZOOZ Power stock opened at $5.32 on Wednesday. ZOOZ Power has a 1 year low of $4.55 and a 1 year high of $101.20. The company’s fifty day moving average is $5.93 and its two-hundred day moving average is $7.62.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd increased its stake 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 worth $51,000 after acquiring an additional 105,459 shares during the period. Arrington Capital Management LLC acquired a new position in shares of ZOOZ Power during the fourth quarter worth about $4,366,000. Pantera Capital Partners LP acquired a new position in shares of ZOOZ Power during the fourth quarter worth about $1,867,000. Jane Street Group LLC increased its stake 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 worth $40,000 after acquiring an additional 71,311 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of ZOOZ Power during the fourth quarter worth about $3,066,000. 38.06% of the stock is owned by hedge funds and other 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.