ZOOZ Power Ltd. (NASDAQ:ZOOZ) Receives Average Recommendation of “Hold” from Brokerages

ZOOZ Power Ltd. (NASDAQ:ZOOZ) has received an average recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.50.

ZOOZ has been the topic of several analyst reports. Chardan Capital began coverage on shares of ZOOZ Power in a research note on Tuesday, January 20th. They issued a “buy” rating and a $2.00 target price on the stock. Zacks Research upgraded ZOOZ Power to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ZOOZ Power in a report on Friday, January 9th.

ZOOZ Power Stock Down 0.9%

ZOOZ opened at $0.46 on Tuesday. The stock has a 50-day moving average price of $0.48 and a 200-day moving average price of $1.30. ZOOZ Power has a 1 year low of $0.37 and a 1 year high of $5.06.

Institutional Trading of ZOOZ Power

A hedge fund recently raised its stake in ZOOZ Power stock. Bank of America Corp DE increased its stake in shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) by 1,122,810.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,353 shares of the company’s stock after purchasing an additional 213,334 shares during the period. Bank of America Corp DE owned approximately 1.77% of ZOOZ Power worth $457,000 as of its most recent filing with the Securities & Exchange Commission. 38.06% of the stock is currently owned by institutional investors and hedge funds.

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.