ZOOZ Power Ltd. (NASDAQ:ZOOZ) Sees Significant Increase in Short Interest

ZOOZ Power Ltd. (NASDAQ:ZOOZ – Get Free Report) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 392,315 shares, a growth of 278.2% from the April 30th total of 103,743 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 395,650 shares, the days-to-cover ratio is presently 1.0 days.

ZOOZ Power Trading Down 1.1%

Shares of ZOOZ Power stock traded down $0.00 during trading hours on Friday, hitting $0.29. 151,366 shares of the company’s stock traded hands, compared to its average volume of 331,460. ZOOZ Power has a 12-month low of $0.25 and a 12-month high of $5.06. The company has a fifty day simple moving average of $0.31 and a 200-day simple moving average of $0.41.

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ZOOZ Power shares are scheduled to reverse split on Monday, June 1st. The 1-20 reverse split was announced on Tuesday, May 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, May 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZOOZ. Arrington Capital Management LLC bought a new position in shares of ZOOZ Power during the 4th quarter worth $4,366,000. MMCAP International Inc. SPC bought a new position in shares of ZOOZ Power during the 4th quarter worth $3,066,000. Bank of Montreal Can bought a new position in shares of ZOOZ Power during the 4th quarter worth $3,066,000. Pantera Capital Partners LP bought a new position in shares of ZOOZ Power during the 4th quarter worth $1,867,000. Finally, Velan Capital Investment Management LP bought a new position in shares of ZOOZ Power during the 3rd quarter worth $4,280,000. Institutional investors own 38.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZOOZ. Chardan Capital reiterated a “buy” rating and issued a $2.00 target price on shares of ZOOZ Power in a research note on Monday, March 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ZOOZ Power in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.00.

View Our Latest Analysis on ZOOZ

About ZOOZ Power

(Get Free Report)

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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