ParaZero Technologies (NASDAQ:PRZO) Shares Down 4.6% – Should You Sell?

ParaZero Technologies Ltd. (NASDAQ:PRZO) dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $1.01 and last traded at $1.03. Approximately 500,087 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 444,562 shares. The stock had previously closed at $1.08.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of ParaZero Technologies in a report on Wednesday, October 8th. Wall Street Zen cut ParaZero Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

ParaZero Technologies Price Performance

The firm’s 50 day simple moving average is $1.35 and its 200-day simple moving average is $1.45.

About ParaZero Technologies

ParaZero Technologies (NASDAQ:PRZO) is a provider of safety and risk mitigation systems for unmanned aerial vehicles (UAVs). The company develops integrated flight termination and parachute deployment solutions designed to protect people, property and aircraft in the event of drone failures. Its flagship SafeAir™ product line features automated detection of loss-of-control scenarios, rapid parachute deployment and motor-kill capabilities, enabling safer operations across a range of commercial, industrial and defense applications.

Founded in 2016 and headquartered in Israel, ParaZero has expanded its footprint through partnerships and a network of authorized distributors in North America, Europe and Asia-Pacific.