ZOOZ Power (NASDAQ:ZOOZ) Lowered to Strong Sell Rating by Zacks Research

ZOOZ Power (NASDAQ:ZOOZ) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

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

ZOOZ Power Stock Up 5.1%

Shares of ZOOZ opened at $5.59 on Tuesday. The business’s 50 day moving average is $5.91 and its two-hundred day moving average is $7.57. ZOOZ Power has a 52-week low of $4.55 and a 52-week high of $101.20.

Institutional Investors Weigh In On ZOOZ Power

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of ZOOZ Power during the 4th quarter valued at approximately $3,066,000. XTX Topco Ltd raised its position 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 in the last quarter. Velan Capital Investment Management LP acquired a new stake in shares of ZOOZ Power during the 3rd quarter valued at approximately $4,280,000. Pantera Capital Partners LP acquired a new stake in shares of ZOOZ Power during the 4th quarter valued at approximately $1,867,000. Finally, Bank of America Corp DE raised its position 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 in the last quarter. 38.06% of the stock is owned by institutional investors and hedge funds.

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.