ZOOZ Power (NASDAQ:ZOOZ) Coverage Initiated at Chardan Capital

Equities research analysts at Chardan Capital began coverage on shares of ZOOZ Power (NASDAQ:ZOOZ) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating and a $2.00 price target on the stock. Chardan Capital’s target price would suggest a potential upside of 318.32% from the company’s previous close.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of ZOOZ Power in a research note on Friday, January 9th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ZOOZ Power presently has an average rating of “Hold” and a consensus target price of $3.50.

ZOOZ Power Trading Down 3.8%

Shares of ZOOZ Power stock opened at $0.48 on Tuesday. ZOOZ Power has a 12-month low of $0.37 and a 12-month high of $5.06. The company has a 50-day simple moving average of $0.49 and a 200 day simple moving average of $1.33.

Institutional Trading of ZOOZ Power

An institutional investor recently bought a new position in ZOOZ Power stock. Velan Capital Investment Management LP purchased a new position in ZOOZ Power Ltd. (NASDAQ:ZOOZ) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,000,000 shares of the company’s stock, valued at approximately $4,280,000. ZOOZ Power comprises approximately 4.0% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 10th largest position. Velan Capital Investment Management LP owned 16.57% of ZOOZ Power at the end of the most recent quarter. 38.06% of the stock is owned by hedge funds and other institutional investors.

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.