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

ZOOZ Power Ltd. (NASDAQ:ZOOZ) saw a significant drop in short interest in March. As of March 13th, there was short interest totaling 125,813 shares, a drop of 22.7% from the February 26th total of 162,808 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily volume of 213,512 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ZOOZ Power in a report on Friday, January 9th. Chardan Capital started coverage on ZOOZ Power in a research note on Tuesday, January 20th. They set a “buy” rating and a $2.00 price objective on the stock. Finally, Zacks Research raised ZOOZ Power to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ZOOZ Power currently has an average rating of “Hold” and a consensus price target of $2.00.

Institutional Investors Weigh In On ZOOZ Power

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its position in ZOOZ Power by 347.7% in the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after acquiring an additional 71,311 shares in the last quarter. XTX Topco Ltd boosted its stake in ZOOZ Power by 986.6% in the 4th quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after purchasing an additional 105,459 shares during the period. Bank of America Corp DE increased its holdings in ZOOZ Power by 1,122,810.5% during the 3rd quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock worth $457,000 after purchasing an additional 213,334 shares in the last quarter. Pantera Capital Partners LP bought a new position in ZOOZ Power during the 4th quarter worth about $1,867,000. Finally, MMCAP International Inc. SPC acquired a new stake in shares of ZOOZ Power in the 4th quarter valued at about $3,066,000. 38.06% of the stock is currently owned by institutional investors and hedge funds.

ZOOZ Power Stock Performance

Shares of ZOOZ stock opened at $0.32 on Friday. ZOOZ Power has a 52 week low of $0.30 and a 52 week high of $5.06. The company’s 50 day moving average price is $0.40 and its two-hundred day moving average price is $0.88.

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.