ZOOZ Power Ltd. (NASDAQ:ZOOZ) Sees Significant Decline in Short Interest

ZOOZ Power Ltd. (NASDAQ:ZOOZ) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 155,192 shares, a drop of 78.6% from the December 31st total of 725,304 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average daily volume of 438,760 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 438,760 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.9% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ZOOZ. Zacks Research upgraded ZOOZ Power to a “hold” rating in a report on Friday, January 23rd. Chardan Capital started coverage on ZOOZ Power in a report on Tuesday, January 20th. They set a “buy” rating and a $2.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a research note on Friday, January 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.50.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ZOOZ Power stock. Bank of America Corp DE grew its stake in ZOOZ Power Ltd. (NASDAQ:ZOOZ) by 1,122,810.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 quarter. 38.06% of the stock is owned by hedge funds and other institutional investors.

ZOOZ Power Price Performance

NASDAQ:ZOOZ opened at $0.47 on Wednesday. ZOOZ Power has a one year low of $0.37 and a one year high of $5.06. The company’s 50-day simple moving average is $0.49 and its 200 day simple moving average is $1.32.

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.