ZOOZ Power (NASDAQ:ZOOZ) Receives Buy Rating from Chardan Capital

ZOOZ Power (NASDAQ:ZOOZ)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $10.00 price target on the stock. Chardan Capital’s target price would indicate a potential upside of 61.03% from the stock’s previous close.

A number of other research firms have also recently issued reports on ZOOZ. Zacks Research raised ZOOZ Power from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of ZOOZ Power from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ZOOZ Power has an average rating of “Hold” and an average price target of $10.00.

ZOOZ Power Price Performance

NASDAQ:ZOOZ opened at $6.21 on Wednesday. ZOOZ Power has a 1 year low of $4.55 and a 1 year high of $101.20. The stock has a 50-day moving average price of $5.39 and a two-hundred day moving average price of $6.16.

ZOOZ Power (NASDAQ:ZOOZ) last released its quarterly earnings results on Tuesday, August 25th. The company reported ($2.47) EPS for the quarter, topping analysts’ consensus estimates of ($2.60) by $0.13. Research analysts expect that ZOOZ Power will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ZOOZ Power

A number of large investors have recently bought and sold shares of the company. Jane Street Group LLC grew its stake in shares of ZOOZ Power by 347.7% during 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 lifted its position 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 worth $51,000 after purchasing an additional 105,459 shares in the last quarter. Bank of America Corp DE boosted its holdings in ZOOZ Power by 1,122,810.5% during the third 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 during the last quarter. Velan Capital Investment Management LP acquired a new position in ZOOZ Power during the third quarter worth $4,280,000. Finally, Pantera Capital Partners LP bought a new position in ZOOZ Power in the fourth quarter valued at $1,867,000. 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.