ParaZero Technologies (NASDAQ:PRZO) Stock Price Down 1.9% – Here’s Why

ParaZero Technologies Ltd. (NASDAQ:PRZO) dropped 1.9% during mid-day trading on Wednesday. The company traded as low as $0.6050 and last traded at $0.6190. Approximately 269,843 shares changed hands during trading, a decline of 49% from the average daily volume of 528,528 shares. The stock had previously closed at $0.6310.

Analysts Set New Price Targets

Separately, Weiss Ratings raised ParaZero Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, ParaZero Technologies has an average rating of “Sell”.

ParaZero Technologies Price Performance

The company’s 50-day moving average price is $0.67 and its two-hundred day moving average price is $0.64.

ParaZero Technologies (NASDAQ:PRZO) last issued its quarterly earnings results on Wednesday, August 26th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $0.53 million for the quarter.

About ParaZero Technologies

ParaZero Technologies Ltd. is an Israel-based aerospace company that develops safety systems for unmanned aircraft, commonly known as drones. Its solutions are designed to help reduce the risks associated with drone failures and support the safe operation of commercial and industrial unmanned aircraft.

The company’s primary product platform, SafeAir, combines onboard sensors, software and an autonomous parachute recovery system. When the system detects a critical flight event, it is designed to initiate safety procedures such as deploying a parachute, reducing the aircraft’s energy and providing alerts or other response functions.