Short Interest in ZOOZ Power Ltd. (NASDAQ:ZOOZ) Drops By 58.6%

Key Points

• Short interest plunged 58.6% in April to 28,728 shares, leaving effectively 0.0% of shares sold short and a days-to-cover ratio of 0.0.
• Analysts are mixed: the stock has a consensus "Hold" rating and a $2.00 target based on 1 Buy, 2 Hold and 1 Sell recommendation.
• Shares trade around $0.32 (50-day MA $0.35, 200-day MA $0.61) with a one-year range of $0.29–$5.06, and institutional investors now own about 38.06% after several recent sizable stakes.

ZOOZ Power Ltd. (NASDAQ:ZOOZ - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 28,728 shares, a decrease of 58.6% from the March 31st total of 69,316 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 600,865 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZOOZ. Weiss Ratings reiterated a "sell (e+)" rating on shares of ZOOZ Power in a research note on Wednesday. Chardan Capital reaffirmed a "buy" rating and issued a $2.00 price objective on shares of ZOOZ Power in a report on Monday, March 30th. Finally, Zacks Research raised shares of ZOOZ Power to a "hold" rating in a research note on Friday, January 23rd. 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.00.

ZOOZ Power Stock Down 0.6%

Shares of ZOOZ Power stock opened at $0.32 on Friday. ZOOZ Power has a 1-year low of $0.29 and a 1-year high of $5.06. The business's fifty day moving average price is $0.35 and its two-hundred day moving average price is $0.61.

Institutional Investors Weigh In On ZOOZ Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position 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 buying an additional 213,334 shares in the last quarter. Velan Capital Investment Management LP bought a new stake in shares of ZOOZ Power during the 3rd quarter worth about $4,280,000. MMCAP International Inc. SPC acquired a new stake in shares of ZOOZ Power in the 4th quarter worth approximately $3,066,000. Bank of Montreal Can bought a new position in shares of ZOOZ Power in the fourth quarter valued at approximately $3,066,000. Finally, Jane Street Group LLC boosted its holdings in shares of ZOOZ Power by 347.7% in the fourth 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. 38.06% of the stock is currently 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.

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