Brokerages Set ZOOZ Power Ltd. (NASDAQ:ZOOZ) Target Price at $3.50

Shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.50.

A number of analysts recently commented on the stock. Zacks Research upgraded shares of ZOOZ Power to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ZOOZ Power in a research report on Friday, January 9th. Finally, Chardan Capital started coverage on ZOOZ Power in a research report on Tuesday, January 20th. They issued a “buy” rating and a $2.00 price objective for the company.

ZOOZ Power Stock Down 1.0%

Shares of NASDAQ:ZOOZ opened at $0.46 on Tuesday. The company has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $1.31. ZOOZ Power has a 52 week low of $0.37 and a 52 week high of $5.06.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ZOOZ Power stock. Bank of America Corp DE increased its stake in shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) by 1,122,810.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,353 shares of the company’s stock after acquiring an additional 213,334 shares during the period. Bank of America Corp DE owned about 1.77% of ZOOZ Power worth $457,000 as of its most recent SEC filing. 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.