ZOOZ Power (NASDAQ:ZOOZ) Stock Price Down 4.9% – Here’s Why

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s share price traded down 4.9% during trading on Wednesday . The stock traded as low as $1.45 and last traded at $1.55. 275,443 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 679,737 shares. The stock had previously closed at $1.63.

Wall Street Analysts Forecast Growth

ZOOZ has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a research report on Tuesday, October 14th. Maxim Group cut shares of ZOOZ Power from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of ZOOZ Power to a “strong sell” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.00.

ZOOZ Power Price Performance

The company’s fifty day moving average is $2.02 and its 200-day moving average is $1.61.

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.