ZOOZ Power Ltd. (NASDAQ:ZOOZ – Get Free Report) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 69,316 shares, a decrease of 44.9% from the March 15th total of 125,813 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 297,241 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Investors Weigh In On ZOOZ Power
Institutional investors have recently added to or reduced their stakes in the company. Arrington Capital Management LLC acquired a new stake in shares of ZOOZ Power during the 4th quarter valued at $4,366,000. MMCAP International Inc. SPC acquired a new stake in shares of ZOOZ Power during the 4th quarter valued at $3,066,000. Bank of Montreal Can acquired a new stake in shares of ZOOZ Power during the 4th quarter valued at $3,066,000. Pantera Capital Partners LP purchased a new stake in shares of ZOOZ Power in the fourth quarter valued at $1,867,000. Finally, Velan Capital Investment Management LP purchased a new stake in shares of ZOOZ Power in the third quarter valued at $4,280,000. 38.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
ZOOZ has been the subject of several recent research reports. Chardan Capital reaffirmed a “buy” rating and set a $2.00 target price on shares of ZOOZ Power in a report on Monday, March 30th. Zacks Research raised ZOOZ Power to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.00.
ZOOZ Power Stock Performance
ZOOZ traded up $0.02 during trading on Tuesday, reaching $0.31. The stock had a trading volume of 2,113,878 shares, compared to its average volume of 333,843. ZOOZ Power has a 1-year low of $0.29 and a 1-year high of $5.06. The stock has a 50 day moving average of $0.36 and a two-hundred day moving average of $0.71.
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.
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