Innoviz Technologies Sees Unusually High Options Volume (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 76,696 call options on the company. This is an increase of approximately 850% compared to the typical volume of 8,074 call options.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INVZ. Rosenblatt Securities restated a "neutral" rating and set a $3.25 price objective on shares of Innoviz Technologies in a research note on Tuesday. Westpark Capital restated a "buy" rating and issued a $6.00 price target on shares of Innoviz Technologies in a research report on Tuesday, August 6th. The Goldman Sachs Group downgraded Innoviz Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the company from $2.25 to $1.00 in a research note on Thursday, July 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $2.00 price objective on shares of Innoviz Technologies in a research note on Monday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $3.85.

Institutional Trading of Innoviz Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kovack Advisors Inc. purchased a new position in Innoviz Technologies during the first quarter valued at approximately $28,000. Victory Capital Management Inc. purchased a new stake in shares of Innoviz Technologies in the 4th quarter valued at about $54,000. Ground Swell Capital LLC bought a new stake in shares of Innoviz Technologies during the 2nd quarter valued at about $26,000. Virtu Financial LLC grew its holdings in shares of Innoviz Technologies by 85.2% during the first quarter. Virtu Financial LLC now owns 86,171 shares of the company's stock worth $116,000 after purchasing an additional 39,633 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Innoviz Technologies in the fourth quarter valued at approximately $106,000. 63.26% of the stock is currently owned by institutional investors.

Innoviz Technologies Trading Up 3.8 %

Shares of INVZ traded up $0.02 on Wednesday, reaching $0.57. 1,246,924 shares of the company's stock traded hands, compared to its average volume of 2,231,163. The stock's 50 day simple moving average is $0.75 and its two-hundred day simple moving average is $1.04. Innoviz Technologies has a 52-week low of $0.50 and a 52-week high of $2.99. The stock has a market cap of $77.04 million, a PE ratio of -0.73 and a beta of 0.99.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). Innoviz Technologies had a negative return on equity of 75.99% and a negative net margin of 338.67%. The firm had revenue of $6.66 million during the quarter, compared to analysts' expectations of $4.77 million. During the same period in the prior year, the business earned ($0.23) earnings per share. Analysts forecast that Innoviz Technologies will post -0.64 earnings per share for the current year.

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.