ZOOZ Power Ltd. (NASDAQ:ZOOZ) Sees Significant Growth in Short Interest

ZOOZ Power Ltd. (NASDAQ:ZOOZ) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 392,315 shares, an increase of 278.2% from the April 30th total of 103,743 shares. Based on an average trading volume of 395,650 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.6% of the company’s stock are short sold.

ZOOZ Power Trading Up 5.1%

NASDAQ:ZOOZ opened at $0.30 on Friday. ZOOZ Power has a 52 week low of $0.25 and a 52 week high of $5.06. The firm has a 50-day moving average price of $6.18 and a two-hundred day moving average price of $8.10.

ZOOZ Power’s stock is scheduled 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 market closes on Friday, May 29th.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ZOOZ. Chardan Capital reaffirmed a “buy” rating and issued a $40.00 price target on shares of ZOOZ Power in a research report on Monday, March 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ZOOZ Power in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ZOOZ Power presently has an average rating of “Hold” and a consensus target price of $40.00.

Institutional Investors Weigh In On ZOOZ Power

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in shares of ZOOZ Power by 347.7% during 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 during the last quarter. XTX Topco Ltd increased its stake in shares of ZOOZ Power by 986.6% during the 4th 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 last quarter. Bank of America Corp DE increased its stake in shares of 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 worth $457,000 after purchasing an additional 213,334 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in shares of ZOOZ Power during the 3rd quarter worth approximately $4,280,000. Finally, Pantera Capital Partners LP purchased a new stake in shares of ZOOZ Power during the 4th quarter worth approximately $1,867,000. 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.