ZOOZ Power (NASDAQ:ZOOZ) Price Target Lowered to $10.00 at Chardan Capital

ZOOZ Power (NASDAQ:ZOOZ) had its target price lowered by Chardan Capital from $40.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s price objective would suggest a potential upside of 80.05% from the company’s previous close.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ZOOZ Power in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

ZOOZ Power Stock Up 6.8%

Shares of ZOOZ traded up $0.35 during midday trading on Friday, reaching $5.55. 739 shares of the stock were exchanged, compared to its average volume of 19,208. ZOOZ Power has a 12-month low of $5.00 and a 12-month high of $101.20. The firm has a 50 day simple moving average of $5.96 and a 200-day simple moving average of $7.73.

Institutional Trading of ZOOZ Power

Several institutional investors have recently modified their holdings of ZOOZ. Jane Street Group LLC boosted its holdings in shares of ZOOZ Power by 347.7% in the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock worth $40,000 after acquiring an additional 71,311 shares in the last quarter. XTX Topco Ltd increased its stake in shares of ZOOZ Power by 986.6% in the fourth quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock valued at $51,000 after buying an additional 105,459 shares in the last quarter. Bank of America Corp DE increased its stake in shares of ZOOZ Power by 1,122,810.5% in the third quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock valued at $457,000 after buying an additional 213,334 shares in the last quarter. Pantera Capital Partners LP acquired a new stake in shares of ZOOZ Power in the fourth quarter valued at $1,867,000. Finally, MMCAP International Inc. SPC acquired a new stake in shares of ZOOZ Power in the fourth quarter valued at $3,066,000. 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.