Short Interest in ZOOZ Power Ltd. (NASDAQ:ZOOZ) Drops By 42.1%

ZOOZ Power Ltd. (NASDAQ:ZOOZ – Get Free Report) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 7,448 shares, a decline of 42.1% from the June 15th total of 12,856 shares. Based on an average trading volume of 29,243 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are sold short.

ZOOZ Power Stock Down 2.3%

Shares of NASDAQ ZOOZ traded down $0.12 during trading hours on Friday, reaching $4.99. The stock had a trading volume of 20,794 shares, compared to its average volume of 10,092. The business’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $6.98. ZOOZ Power has a 52-week low of $4.55 and a 52-week high of $101.20.

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Institutional Investors Weigh In On ZOOZ Power

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC increased its stake 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 valued at $40,000 after buying an additional 71,311 shares during the period. XTX Topco Ltd lifted its stake in ZOOZ Power by 986.6% in 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 period. Bank of America Corp DE lifted its stake in ZOOZ Power by 1,122,810.5% in 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 period. Velan Capital Investment Management LP bought a new position in ZOOZ Power during the 3rd quarter worth about $4,280,000. Finally, Pantera Capital Partners LP purchased a new position in ZOOZ Power during the 4th quarter valued at about $1,867,000. 38.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ZOOZ. Chardan Capital cut their price objective on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. Finally, Zacks Research lowered shares of ZOOZ Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $10.00.

Read Our Latest Analysis on ZOOZ

ZOOZ Power Company Profile

(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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