Short Interest in ZOOZ Power Ltd. (NASDAQ:ZOOZ) Decreases By 78.6%

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 155,192 shares, a decline of 78.6% from the December 31st total of 725,304 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 438,760 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 438,760 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.9% of the company’s stock are short sold.

Institutional Trading of ZOOZ Power

An institutional investor recently raised its position in ZOOZ Power stock. Bank of America Corp DE grew its holdings in ZOOZ Power Ltd. (NASDAQ:ZOOZ) by 1,122,810.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 213,353 shares of the company’s stock after acquiring an additional 213,334 shares during the period. Bank of America Corp DE owned 1.77% of ZOOZ Power worth $457,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 38.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ZOOZ shares. Chardan Capital initiated coverage on shares of ZOOZ Power in a research note on Tuesday, January 20th. They set a “buy” rating and a $2.00 price objective for the company. Zacks Research upgraded shares of ZOOZ Power to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ZOOZ Power in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.50.

ZOOZ Power Price Performance

ZOOZ stock opened at $0.47 on Wednesday. The business’s 50-day moving average is $0.49 and its two-hundred day moving average is $1.32. ZOOZ Power has a fifty-two week low of $0.37 and a fifty-two week high of $5.06.

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.