ZOOZ Power Ltd. (NASDAQ:ZOOZ) Short Interest Update

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the target of a significant 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. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 395,650 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Investors Weigh In On ZOOZ Power

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Arrington Capital Management LLC bought a new position in shares of ZOOZ Power in the 4th quarter worth $4,366,000. MMCAP International Inc. SPC bought a new position in shares of ZOOZ Power in the 4th quarter worth $3,066,000. Bank of Montreal Can bought a new position in shares of ZOOZ Power in the 4th quarter worth $3,066,000. Pantera Capital Partners LP bought a new position in shares of ZOOZ Power in the 4th quarter worth $1,867,000. Finally, Velan Capital Investment Management LP bought a new position in shares of ZOOZ Power in the 3rd quarter worth $4,280,000. 38.06% of the stock is owned by institutional investors.

ZOOZ Power Price Performance

ZOOZ traded up $0.01 during trading hours on Friday, reaching $0.30. 420,503 shares of the company’s stock traded hands, compared to its average volume of 335,140. The firm has a 50-day moving average price of $0.31 and a 200 day moving average price of $0.41. ZOOZ Power has a 52-week low of $0.25 and a 52-week high of $5.06.

ZOOZ Power’s stock is going 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Chardan Capital reaffirmed a “buy” rating and set a $40.00 price objective on shares of ZOOZ Power in a research report on Monday, March 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ZOOZ Power in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.00.

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.