Zacks Research Upgrades ZOOZ Power (NASDAQ:ZOOZ) to Hold

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

Several other equities analysts have also weighed in on the stock. Chardan Capital dropped their price objective on shares of ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, June 12th. Weiss Ratings raised ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ZOOZ Power currently has an average rating of “Hold” and a consensus target price of $10.00.

ZOOZ Power Price Performance

Shares of NASDAQ ZOOZ opened at $5.35 on Tuesday. The company’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $6.38. ZOOZ Power has a 12-month low of $4.55 and a 12-month high of $101.20.

Hedge Funds Weigh In On ZOOZ Power

A number of hedge funds have recently added to or reduced their stakes in ZOOZ. Bank of Montreal Can bought a new stake in ZOOZ Power during the fourth quarter worth $3,066,000. Velan Capital Investment Management LP purchased a new stake in ZOOZ Power in the 3rd quarter valued at $4,280,000. XTX Topco Ltd lifted its stake in 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. Pantera Capital Partners LP bought a new position in ZOOZ Power during the 4th quarter valued at $1,867,000. Finally, Jane Street Group LLC lifted its stake in ZOOZ Power by 347.7% during the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after acquiring an additional 71,311 shares in the last quarter. Institutional investors and hedge funds 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.