ZOOZ Power (NASDAQ:ZOOZ) Trading Down 0.9% – Time to Sell?

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s stock price dropped 0.9% on Thursday . The stock traded as low as $5.07 and last traded at $5.1750. Approximately 2,084 shares were traded during mid-day trading, a decline of 68% from the average session volume of 6,615 shares. The stock had previously closed at $5.22.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ZOOZ shares. Zacks Research cut ZOOZ Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. Weiss Ratings raised ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Finally, Chardan Capital reduced their target price on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $10.00.

ZOOZ Power Trading Down 0.9%

The business has a fifty day moving average price of $5.40 and a 200 day moving average price of $6.51.

Hedge Funds Weigh In On ZOOZ Power

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd raised its holdings in ZOOZ Power by 986.6% during the 4th quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after purchasing an additional 105,459 shares during the last quarter. Arrington Capital Management LLC bought a new stake in shares of ZOOZ Power in the 4th quarter valued at $4,366,000. Pantera Capital Partners LP acquired a new stake in shares of ZOOZ Power during the fourth quarter worth $1,867,000. Jane Street Group LLC raised its stake in 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 buying an additional 71,311 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in ZOOZ Power during the fourth quarter worth $3,066,000. 38.06% of the stock is currently owned by institutional investors.

ZOOZ Power Company Profile

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.