ZOOZ Power (NASDAQ:ZOOZ) Trading Down 3.5% – Should You Sell?

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s share price fell 3.5% during mid-day trading on Tuesday . The company traded as low as $0.4055 and last traded at $0.4148. 805,235 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 642,644 shares. The stock had previously closed at $0.43.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ZOOZ shares. Wall Street Zen downgraded shares of ZOOZ Power to a “strong sell” rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ZOOZ Power presently has an average rating of “Hold” and a consensus price target of $5.00.

ZOOZ Power Stock Performance

The business’s 50 day simple moving average is $0.70 and its 200-day simple moving average is $1.38.

Institutional Investors Weigh In On ZOOZ Power

A hedge fund recently raised its stake in ZOOZ Power stock. Bank of America Corp DE grew its holdings in ZOOZ Power Ltd. (NASDAQ:ZOOZ) 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 purchasing an additional 213,334 shares during the period. Bank of America Corp DE owned approximately 1.77% of ZOOZ Power worth $457,000 as of its most recent SEC filing. Institutional investors own 38.06% of the company’s stock.

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.