ZOOZ Power (NASDAQ:ZOOZ) Earns Buy Rating from Analysts at Chardan Capital

Chardan Capital initiated coverage on shares of ZOOZ Power (NASDAQ:ZOOZ) in a research note published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $2.00 price target on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a report on Friday, January 9th. Two analysts have 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, the company presently has a consensus rating of “Hold” and an average target price of $3.50.

ZOOZ Power Stock Down 1.8%

Shares of ZOOZ opened at $0.47 on Tuesday. The company has a 50-day simple moving average of $0.49 and a 200-day simple moving average of $1.32. ZOOZ Power has a 52 week low of $0.37 and a 52 week high of $5.06.

Institutional Trading of ZOOZ Power

An institutional investor recently raised its position in ZOOZ Power stock. Bank of America Corp DE boosted its stake in shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) by 1,122,810.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,353 shares of the company’s stock after acquiring an additional 213,334 shares during the quarter. Bank of America Corp DE owned 1.77% of ZOOZ Power worth $457,000 as of its most recent SEC filing. Institutional investors 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.