ZOOZ Power (NASDAQ:ZOOZ) Shares Down 3.5% – Should You Sell?
by Sarita Garza · The Markets DailyZOOZ Power Ltd. (NASDAQ:ZOOZ – Get Free Report)’s stock price was down 3.5% on Tuesday . The stock traded as low as $0.4055 and last traded at $0.4148. Approximately 805,235 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 642,644 shares. The stock had previously closed at $0.43.
Analyst Upgrades and Downgrades
ZOOZ has been the subject of several research reports. Wall Street Zen cut shares of ZOOZ Power to a “strong sell” rating in a research note on Friday, September 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ZOOZ Power in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.00.
Read Our Latest Research Report on ZOOZ
ZOOZ Power Trading Up 5.6%
The stock’s fifty day moving average price is $0.68 and its 200-day moving average price is $1.37.
Institutional Trading of ZOOZ Power
An institutional investor recently raised its position in ZOOZ Power stock. Bank of America Corp DE lifted its stake in ZOOZ Power Ltd. (NASDAQ:ZOOZ – Free Report) by 1,122,810.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period. Institutional investors and hedge funds 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.