ZOOZ Power Ltd. (NASDAQ:ZOOZ) Sees Large Growth in Short Interest

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 103,743 shares, an increase of 261.1% from the April 15th total of 28,728 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 308,406 shares, the short-interest ratio is presently 0.3 days.

ZOOZ Power Price Performance

ZOOZ Power stock traded down $0.00 during mid-day trading on Friday, reaching $0.28. The company had a trading volume of 129,803 shares, compared to its average volume of 337,102. ZOOZ Power has a 52 week low of $0.25 and a 52 week high of $5.06. The company has a 50 day moving average of $0.33 and a 200-day moving average of $0.47.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ZOOZ shares. Chardan Capital reaffirmed a “buy” rating and set a $2.00 price objective on shares of ZOOZ Power in a report on Monday, March 30th. Zacks Research raised shares of ZOOZ Power to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ZOOZ Power in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ZOOZ Power currently has a consensus rating of “Hold” and an average price target of $2.00.

Institutional Trading of ZOOZ Power

A number of hedge funds have recently bought and sold shares of ZOOZ. Bank of America Corp DE boosted its holdings in 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 period. Velan Capital Investment Management LP bought a new stake in ZOOZ Power in the 3rd quarter valued at $4,280,000. MMCAP International Inc. SPC bought a new stake in ZOOZ Power in the 4th quarter valued at $3,066,000. Bank of Montreal Can bought a new stake in ZOOZ Power in the 4th quarter valued at $3,066,000. Finally, Jane Street Group LLC boosted its holdings in ZOOZ Power by 347.7% in the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after purchasing an additional 71,311 shares during the period. 38.06% of the stock is owned by institutional investors.

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.