ZOOZ Power (NASDAQ:ZOOZ) Stock Price Down 13.6% – Here’s Why

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s share price fell 13.6% during mid-day trading on Thursday. The stock traded as low as $5.00 and last traded at $5.1830. Approximately 8,097 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 13,206 shares. The stock had previously closed at $6.00.

Analyst Ratings Changes

A number of research firms recently commented on ZOOZ. Chardan Capital reaffirmed a “buy” rating and issued a $10.00 target price on shares of ZOOZ Power in a research report on Wednesday, August 26th. Zacks Research raised shares of ZOOZ Power from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ZOOZ Power currently has a consensus rating of “Hold” and a consensus target price of $10.00.

ZOOZ Power Price Performance

The business’s fifty day moving average price is $6.82 and its 200 day moving average price is $6.51.

About ZOOZ Power

ZOOZ Power Ltd. (NASDAQ: ZOOZ) is an Israeli energy technology company that develops high-power energy storage systems based on kinetic, flywheel-based technology. Its systems are designed to store and deliver electricity rapidly, supporting applications that require frequent charging and discharging without relying on conventional electrochemical batteries.

The company’s products are intended primarily for electric vehicle charging infrastructure. Its energy storage systems can help provide high-power charging where the local electrical grid has limited capacity, while also supporting grid stability, power quality, and other short-duration energy management applications.