ZOOZ Power Ltd. (NASDAQ:ZOOZ) Sees Significant Decrease in Short Interest

ZOOZ Power Ltd. (NASDAQ:ZOOZ) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 125,813 shares, a decrease of 22.7% from the February 26th total of 162,808 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 213,512 shares, the short-interest ratio is presently 0.6 days.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Chardan Capital began coverage on ZOOZ Power in a research report on Tuesday, January 20th. They issued a “buy” rating and a $2.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a research report on Friday, January 9th. Finally, Zacks Research raised shares of ZOOZ Power to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ZOOZ Power has an average rating of “Hold” and an average price target of $2.00.

Institutional Trading of ZOOZ Power

Several institutional investors and hedge funds have recently bought and sold shares of ZOOZ. Jane Street Group LLC lifted its stake in ZOOZ Power by 347.7% in the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after purchasing an additional 71,311 shares during the last quarter. XTX Topco Ltd increased its position in ZOOZ Power by 986.6% during the fourth quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after buying an additional 105,459 shares during the last quarter. Bank of America Corp DE increased its position in ZOOZ Power by 1,122,810.5% during the third quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock worth $457,000 after buying an additional 213,334 shares during the last quarter. Velan Capital Investment Management LP bought a new stake in ZOOZ Power in the third quarter valued at approximately $4,280,000. Finally, Pantera Capital Partners LP bought a new stake in ZOOZ Power in the fourth quarter valued at approximately $1,867,000. Institutional investors own 38.06% of the company’s stock.

ZOOZ Power Price Performance

Shares of NASDAQ:ZOOZ opened at $0.32 on Friday. The company’s 50-day moving average price is $0.40 and its two-hundred day moving average price is $0.88. ZOOZ Power has a one year low of $0.30 and a one year 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.