Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Up 62.5% in February

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 24,390,000 shares, an increase of 62.5% from the February 13th total of 15,010,000 shares. Based on an average daily trading volume, of 12,070,000 shares, the short-interest ratio is presently 2.0 days. Currently, 12.3% of the company's shares are sold short.

Hedge Funds Weigh In On Innoviz Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Traynor Capital Management Inc. acquired a new stake in Innoviz Technologies during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new stake in shares of Innoviz Technologies during the fourth quarter worth $25,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of Innoviz Technologies by 12.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company's stock worth $266,000 after acquiring an additional 16,900 shares during the period. Lido Advisors LLC bought a new stake in Innoviz Technologies in the 4th quarter valued at $29,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Innoviz Technologies in the 4th quarter worth $37,000. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Innoviz Technologies Stock Performance

NASDAQ:INVZ traded up $0.01 during trading hours on Wednesday, hitting $0.70. The stock had a trading volume of 4,190,640 shares, compared to its average volume of 4,398,579. The business's 50 day moving average is $1.20 and its 200-day moving average is $0.98. The company has a market cap of $118.58 million, a price-to-earnings ratio of -1.09 and a beta of 0.84. Innoviz Technologies has a one year low of $0.45 and a one year high of $3.14.

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Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. The business had revenue of $6.03 million for the quarter, compared to the consensus estimate of $5.86 million. On average, sell-side analysts anticipate that Innoviz Technologies will post -0.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Westpark Capital reaffirmed a "buy" rating and issued a $2.22 price objective on shares of Innoviz Technologies in a research note on Tuesday, February 25th. Rosenblatt Securities restated a "buy" rating and issued a $4.00 price target on shares of Innoviz Technologies in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Innoviz Technologies has a consensus rating of "Moderate Buy" and an average price target of $3.19.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.