Short Interest in ZOOZ Power Ltd. (NASDAQ:ZOOZ) Declines By 42.1%

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 7,448 shares, a decrease of 42.1% from the June 15th total of 12,856 shares. Based on an average daily trading volume, of 29,243 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZOOZ. Weiss Ratings restated a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. Chardan Capital reduced their price objective on ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Finally, Zacks Research downgraded ZOOZ Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $10.00.

ZOOZ Power Price Performance

Shares of ZOOZ stock opened at $5.27 on Thursday. The company’s 50 day moving average is $5.60 and its 200 day moving average is $7.01. ZOOZ Power has a 52-week low of $4.55 and a 52-week high of $101.20.

Hedge Funds Weigh In On ZOOZ Power

A number of large investors have recently made changes to their positions in ZOOZ. Jane Street Group LLC boosted its position 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 purchasing an additional 71,311 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of ZOOZ Power by 986.6% during the fourth quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock valued at $51,000 after acquiring an additional 105,459 shares in the last quarter. Bank of America Corp DE raised its position in shares of ZOOZ Power by 1,122,810.5% in the 3rd quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock valued at $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 3rd quarter valued at approximately $4,280,000. Finally, Pantera Capital Partners LP purchased a new position in shares of ZOOZ Power in the fourth quarter worth $1,867,000. 38.06% of the stock is owned by institutional investors and hedge funds.

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.