ZOOZ Power (NASDAQ:ZOOZ) Shares Down 1.9% – Here’s Why

ZOOZ Power Ltd. (NASDAQ:ZOOZ)’s stock price dropped 1.9% on Tuesday. The company traded as low as $7.69 and last traded at $7.86. Approximately 17,179 shares were traded during trading, a decline of 59% from the average session volume of 42,318 shares. The stock had previously closed at $8.01.

Analyst Upgrades and Downgrades

ZOOZ has been the topic of a number of recent research reports. Chardan Capital restated a “buy” rating and issued a $10.00 price objective on shares of ZOOZ Power in a research note on Wednesday, August 26th. Zacks Research upgraded shares of ZOOZ Power from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of ZOOZ Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.00.

ZOOZ Power Price Performance

The firm’s 50 day simple moving average is $6.11 and its 200-day simple moving average is $6.08.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in ZOOZ Power stock. Arrington Capital Management LLC purchased a new position in shares of ZOOZ Power Ltd. (NASDAQ:ZOOZ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,967,378 shares of the company’s stock, valued at approximately $4,366,000. ZOOZ Power makes up approximately 4.1% of Arrington Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Arrington Capital Management LLC owned approximately 82.58% of ZOOZ Power as of its most recent SEC filing. 38.06% of the stock is currently owned by institutional investors.

ZOOZ Power Company Profile

ZOOZ Power Ltd. is an Israel-based energy technology company that develops kinetic energy storage systems for electric vehicle charging and other power infrastructure applications. Its technology uses high-speed flywheels to store and release electricity, providing a short-duration, high-power energy source without relying solely on the local electricity grid.

The company’s products are designed to support ultra-fast electric vehicle charging at locations where available grid capacity is limited.