ZOOZ Power Stock to Reverse Split on Monday, June 1st (NASDAQ:ZOOZ)

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s stock is set to reverse split on the morning of Monday, June 1st. The 1-20 reverse split was announced on Tuesday, May 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, May 29th.

ZOOZ Power Trading Down 4.7%

Shares of ZOOZ Power stock traded down $0.01 during trading hours on Wednesday, reaching $0.28. The stock had a trading volume of 543,627 shares, compared to its average volume of 340,104. The stock’s 50 day moving average is $0.32 and its 200 day moving average is $0.43. ZOOZ Power has a twelve month low of $0.25 and a twelve month high of $5.06.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZOOZ. Weiss Ratings reissued a “sell (e+)” rating on shares of ZOOZ Power in a report on Wednesday, April 22nd. Chardan Capital reaffirmed a “buy” rating and set a $2.00 target price on shares of ZOOZ Power in a research note on Monday, March 30th. Finally, Zacks Research upgraded ZOOZ Power to a “hold” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ZOOZ Power currently has an average rating of “Hold” and an average target price of $2.00.

Institutional Trading of ZOOZ Power

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC grew its stake 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 in the last quarter. XTX Topco Ltd grew its stake in ZOOZ Power by 986.6% during the 4th quarter. XTX Topco Ltd now owns 116,148 shares of the company’s stock valued at $51,000 after acquiring an additional 105,459 shares in the last quarter. Bank of America Corp DE grew its stake 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 in the last quarter. Pantera Capital Partners LP purchased a new stake in ZOOZ Power during the 4th quarter valued at about $1,867,000. Finally, MMCAP International Inc. SPC purchased a new stake in ZOOZ Power during the 4th quarter valued at about $3,066,000. Hedge funds and other institutional investors own 38.06% of the company’s stock.

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.