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

ZOOZ Power Ltd. (NASDAQ:ZOOZ) saw a large increase in short interest in May. As of May 15th, there was short interest totaling 392,315 shares, an increase of 278.2% from the April 30th total of 103,743 shares. Based on an average daily volume of 395,650 shares, the short-interest ratio is presently 1.0 days. Approximately 0.6% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. Chardan Capital reissued a “buy” rating and issued a $2.00 price target on shares of ZOOZ Power in a research note on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.00.

Institutional Trading of ZOOZ Power

A number of hedge funds and other institutional investors have recently bought and sold shares of ZOOZ. Arrington Capital Management LLC bought a new stake in ZOOZ Power during the 4th quarter valued at $4,366,000. MMCAP International Inc. SPC bought a new stake in ZOOZ Power during the 4th quarter valued at $3,066,000. Bank of Montreal Can bought a new stake in ZOOZ Power during the 4th quarter valued at $3,066,000. Pantera Capital Partners LP bought a new stake in ZOOZ Power during the 4th quarter valued at $1,867,000. Finally, Velan Capital Investment Management LP bought a new stake in ZOOZ Power during the 3rd quarter valued at $4,280,000. Institutional investors own 38.06% of the company’s stock.

ZOOZ Power Trading Down 1.1%

Shares of NASDAQ ZOOZ traded down $0.00 during midday trading on Friday, hitting $0.29. 151,366 shares of the stock traded hands, compared to its average volume of 331,460. ZOOZ Power has a one year low of $0.25 and a one year high of $5.06. The business has a 50 day moving average price of $0.31 and a two-hundred day moving average price of $0.41.

ZOOZ Power shares are scheduled to reverse split on Monday, June 1st. The 1-20 reverse split was announced on Tuesday, May 19th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 29th.

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.