ZOOZ Power Ltd. (NASDAQ:ZOOZ – Get Free Report) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 242,393 shares, a decline of 38.2% from the May 14th total of 392,315 shares. Based on an average daily volume of 292,054 shares, the days-to-cover ratio is presently 0.8 days. Approximately 6.8% of the shares of the stock are short sold.
Institutional Investors Weigh In On ZOOZ Power
Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its position in shares of ZOOZ Power by 347.7% during the fourth quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock worth $40,000 after acquiring an additional 71,311 shares during the last quarter. XTX Topco Ltd raised its position in shares of ZOOZ Power by 986.6% during the fourth quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after acquiring an additional 105,459 shares during the last quarter. Bank of America Corp DE raised its position in shares of ZOOZ Power by 1,122,810.5% during the third quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock worth $457,000 after acquiring an additional 213,334 shares during the last quarter. Pantera Capital Partners LP bought a new stake in shares of ZOOZ Power during the fourth quarter worth $1,867,000. Finally, MMCAP International Inc. SPC bought a new stake in shares of ZOOZ Power during the fourth quarter worth $3,066,000. Institutional investors own 38.06% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have issued reports on ZOOZ shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. Chardan Capital cut their price objective on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. One equities 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.
ZOOZ Power Stock Performance
ZOOZ stock opened at $5.61 on Tuesday. ZOOZ Power has a twelve month low of $5.00 and a twelve month high of $101.20. The business has a fifty day moving average of $5.94 and a 200-day moving average of $7.66.
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. The company was formerly known as Chakratec Ltd. and changed its name to ZOOZ Power Ltd. in March 2021.
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