ZOOZ Power (NASDAQ:ZOOZ) Stock Price Down 0.7% – Should You Sell?

Shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) were down 0.7% on Thursday . The company traded as low as $5.30 and last traded at $5.30. 10,957 shares were traded during trading, a decline of 43% from the average daily volume of 19,322 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZOOZ. Zacks Research cut shares of ZOOZ Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. Chardan Capital cut their price target on shares of ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $10.00.

ZOOZ Power Stock Down 0.7%

The business has a fifty day moving average of $5.68 and a two-hundred day moving average of $7.10.

Hedge Funds Weigh In On ZOOZ Power

A number of institutional investors have recently modified their holdings of ZOOZ. Jane Street Group LLC lifted its stake in shares of ZOOZ Power by 347.7% during the fourth quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after buying an additional 71,311 shares during the period. XTX Topco Ltd grew its stake in ZOOZ Power by 986.6% in the 4th quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after acquiring an additional 105,459 shares during the period. Bank of America Corp DE grew its stake in ZOOZ Power by 1,122,810.5% in the 3rd quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock worth $457,000 after acquiring an additional 213,334 shares during the period. Velan Capital Investment Management LP acquired a new position in ZOOZ Power in the 3rd quarter valued at $4,280,000. Finally, Pantera Capital Partners LP acquired a new position in ZOOZ Power in the 4th quarter valued at $1,867,000. Institutional investors and hedge funds own 38.06% of the company’s stock.

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.