ZOOZ Power’s (ZOOZ) Buy Rating Reaffirmed at Chardan Capital

ZOOZ Power (NASDAQ:ZOOZ)‘s stock had its “buy” rating restated by stock analysts at Chardan Capital in a research note issued to investors on Monday,Benzinga reports. They currently have a $2.00 price objective on the stock.

A number of other analysts also recently issued reports on the stock. Zacks Research raised shares of ZOOZ Power to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ZOOZ Power in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.00.

ZOOZ Power Stock Performance

ZOOZ Power stock opened at $0.32 on Monday. ZOOZ Power has a 12 month low of $0.30 and a 12 month high of $5.06. The stock’s 50 day simple moving average is $0.40 and its two-hundred day simple moving average is $0.86.

Institutional Investors Weigh In On ZOOZ Power

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in shares of ZOOZ Power by 1,122,810.5% in the third quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock valued at $457,000 after buying an additional 213,334 shares during the last quarter. Velan Capital Investment Management LP acquired a new position in ZOOZ Power during the third quarter worth about $4,280,000. MMCAP International Inc. SPC purchased a new stake in ZOOZ Power during the 4th quarter valued at about $3,066,000. Bank of Montreal Can acquired a new stake in ZOOZ Power in the 4th quarter valued at about $3,066,000. Finally, Jane Street Group LLC lifted its stake in 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. Institutional investors and hedge funds 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.