ZOOZ Power (NASDAQ:ZOOZ) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

ZOOZ Power (NASDAQ:ZOOZ) issued its quarterly earnings data on Tuesday. The company reported ($2.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.60) by $0.13, reports.

ZOOZ Power Stock Up 2.0%

NASDAQ ZOOZ opened at $6.21 on Wednesday. The business has a 50 day simple moving average of $5.39 and a 200 day simple moving average of $6.16. ZOOZ Power has a one year low of $4.55 and a one year high of $101.20.

Hedge Funds Weigh In On ZOOZ Power

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd grew its holdings in ZOOZ Power by 986.6% in the fourth quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock worth $51,000 after purchasing an additional 105,459 shares during the period. Pantera Capital Partners LP bought a new position in shares of ZOOZ Power in the 4th quarter worth $1,867,000. Jane Street Group LLC lifted its holdings in shares of 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. Bank of Montreal Can bought a new position in shares of ZOOZ Power in the 4th quarter worth $3,066,000. Finally, Velan Capital Investment Management LP acquired a new stake in ZOOZ Power in the 3rd quarter valued at $4,280,000. 38.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of ZOOZ Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 17th. Chardan Capital dropped their price target on shares of ZOOZ Power from $40.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. Finally, Zacks Research raised shares of ZOOZ Power from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.00.

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.