ZOOZ Power Ltd. (NASDAQ:ZOOZ – Get Free Report)’s stock price fell 4% on Wednesday. The stock traded as low as $6.21 and last traded at $6.4150. Approximately 3,237 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 12,557 shares. The stock had previously closed at $6.68.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Zacks Research upgraded shares of ZOOZ Power from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Chardan Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of ZOOZ Power in a report on Wednesday, August 26th. Finally, Weiss Ratings downgraded shares of ZOOZ Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.00.
Check Out Our Latest Stock Report on ZOOZ Power
ZOOZ Power Stock Down 2.2%
The stock has a fifty day moving average of $6.73 and a 200 day moving average of $6.06.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in ZOOZ Power stock. Arrington Capital Management LLC acquired a new stake in shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 9,967,378 shares of the company’s stock, valued at approximately $4,366,000. ZOOZ Power makes up about 4.1% of Arrington Capital Management LLC’s holdings, making the stock its 6th largest position. Arrington Capital Management LLC owned 82.58% of ZOOZ Power at the end of the most recent reporting period. Institutional investors own 38.06% of the company’s stock.
About ZOOZ Power
ZOOZ Power Ltd. (NASDAQ: ZOOZ) is an Israeli energy technology company that develops and markets flywheel-based energy storage systems. Its technology is designed to provide high-power output for short durations, supporting applications that require rapid charging and frequent charging and discharging cycles.
The company’s primary product, the ZOOZTER-100, is a kinetic energy storage system intended to enhance electric vehicle fast-charging infrastructure. The system can help reduce the strain that high-power charging places on local electricity grids and support fast-charging stations in locations where available grid capacity is limited.
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