Innoviz Technologies Target of Unusually Large Options Trading (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) was the recipient of unusually large options trading on Monday. Stock investors acquired 12,194 call options on the company. This represents an increase of 49% compared to the typical volume of 8,170 call options.

Institutional Trading of Innoviz Technologies

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in Innoviz Technologies during the fourth quarter worth $87,000. New Age Alpha Advisors LLC acquired a new stake in shares of Innoviz Technologies in the 4th quarter worth about $168,000. Summit X LLC lifted its position in Innoviz Technologies by 218.3% in the 4th quarter. Summit X LLC now owns 275,417 shares of the company's stock valued at $463,000 after acquiring an additional 188,876 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Innoviz Technologies during the 4th quarter valued at about $156,000. Finally, Sprott Inc. bought a new stake in Innoviz Technologies during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 63.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Rosenblatt Securities raised Innoviz Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. The Goldman Sachs Group dropped their price target on Innoviz Technologies from $1.00 to $0.75 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Westpark Capital began coverage on shares of Innoviz Technologies in a research report on Wednesday, November 27th. They set a "buy" rating and a $1.30 price objective for the company. Finally, Cantor Fitzgerald downgraded shares of Innoviz Technologies from an "overweight" rating to a "neutral" rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.01.

Innoviz Technologies Stock Performance

Innoviz Technologies stock traded down $0.02 during mid-day trading on Thursday, reaching $0.85. The stock had a trading volume of 32,336,451 shares, compared to its average volume of 13,736,704. The firm has a market capitalization of $116.16 million, a PE ratio of -1.32 and a beta of 0.72. Innoviz Technologies has a fifty-two week low of $0.45 and a fifty-two week high of $3.14. The stock's 50-day simple moving average is $1.47 and its 200-day simple moving average is $0.97.

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.