Brokerages Set ZOOZ Power Ltd. (NASDAQ:ZOOZ) PT at $3.50

Shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) have been given a consensus rating of “Hold” by the five research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.50.

Several research firms have commented on ZOOZ. Weiss Ratings restated a “sell (d-)” rating on shares of ZOOZ Power in a report on Friday, January 9th. Chardan Capital started coverage on shares of ZOOZ Power in a research note on Tuesday, January 20th. They set a “buy” rating and a $2.00 price target on the stock. Finally, Zacks Research upgraded shares of ZOOZ Power to a “hold” rating in a report on Friday, January 23rd.

ZOOZ Power Stock Performance

ZOOZ stock opened at $0.44 on Tuesday. ZOOZ Power has a 52-week low of $0.37 and a 52-week high of $5.06. The stock’s fifty day simple moving average is $0.48 and its 200-day simple moving average is $1.30.

Hedge Funds Weigh In On ZOOZ Power

An institutional investor recently bought a new position in ZOOZ Power stock. Velan Capital Investment Management LP bought a new position in shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,000,000 shares of the company’s stock, valued at approximately $4,280,000. ZOOZ Power makes up approximately 4.0% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 10th biggest position. Velan Capital Investment Management LP owned 16.57% of ZOOZ Power as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.