ZOOZ Power (NASDAQ:ZOOZ) Shares Gap Down – Here’s Why

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $6.08, but opened at $5.58. ZOOZ Power shares last traded at $6.0690, with a volume of 14,506 shares changing hands.

Analysts Set New Price Targets

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

ZOOZ Power Trading Up 3.0%

The company has a 50-day simple moving average of $6.16 and a two-hundred day simple moving average of $8.02.

Institutional Trading of ZOOZ Power

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in ZOOZ Power by 1,122,810.5% during the 3rd quarter. Bank of America Corp DE now owns 213,353 shares of the company’s stock valued at $457,000 after acquiring an additional 213,334 shares during the period. Velan Capital Investment Management LP purchased a new position in ZOOZ Power during the 3rd quarter valued at about $4,280,000. MMCAP International Inc. SPC purchased a new position in ZOOZ Power during the 4th quarter valued at about $3,066,000. Bank of Montreal Can purchased a new position in ZOOZ Power during the 4th quarter valued at about $3,066,000. Finally, Jane Street Group LLC lifted its position in ZOOZ Power by 347.7% during the 4th quarter. Jane Street Group LLC now owns 91,819 shares of the company’s stock valued at $40,000 after acquiring an additional 71,311 shares during the period. 38.06% of the stock is owned by institutional investors.

ZOOZ Power Company Profile

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.