ZOOZ Power Ltd. (NASDAQ:ZOOZ) Given Consensus Recommendation of “Hold” by Brokerages

ZOOZ Power Ltd. (NASDAQ:ZOOZ) has earned a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $3.50.

A number of brokerages have recently weighed in on ZOOZ. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a report on Friday, January 9th. Chardan Capital began coverage on shares of ZOOZ Power in a research report on Tuesday, January 20th. They set a “buy” rating and a $2.00 price objective for the company. Finally, Zacks Research raised ZOOZ Power to a “hold” rating in a report on Friday, January 23rd.

ZOOZ Power Trading Down 0.0%

Shares of ZOOZ Power stock opened at $0.38 on Friday. ZOOZ Power has a 12-month low of $0.35 and a 12-month high of $5.06. The firm’s 50-day moving average price is $0.44 and its two-hundred day moving average price is $1.09.

Hedge Funds Weigh In On ZOOZ Power

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in shares of ZOOZ Power during the fourth quarter worth $3,066,000. Velan Capital Investment Management LP bought a new position in ZOOZ Power in the third quarter valued at about $4,280,000. MMCAP International Inc. SPC acquired a new stake in shares of ZOOZ Power during the fourth quarter valued at about $3,066,000. Arrington Capital Management LLC bought a new stake in shares of ZOOZ Power during the fourth quarter worth about $4,366,000. Finally, Jane Street Group LLC grew its holdings 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 purchasing an additional 71,311 shares during the last quarter. 38.06% of the stock is currently 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.