Short Interest in Innoviz Technologies Ltd. (NASDAQ:INVZ) Expands By 20.9%

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 12,150,000 shares, a growth of 20.9% from the December 31st total of 10,050,000 shares. Based on an average trading volume of 6,220,000 shares, the short-interest ratio is presently 2.0 days. Approximately 7.2% of the company's stock are sold short.

Institutional Investors Weigh In On Innoviz Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of INVZ. Migdal Insurance & Financial Holdings Ltd. raised its stake in Innoviz Technologies by 13.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company's stock valued at $11,434,000 after purchasing an additional 810,731 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in Innoviz Technologies by 29.6% in the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company's stock valued at $2,665,000 after purchasing an additional 735,300 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in Innoviz Technologies in the fourth quarter valued at approximately $169,000. Sprott Inc. purchased a new stake in Innoviz Technologies in the fourth quarter valued at approximately $54,000. Finally, Traynor Capital Management Inc. purchased a new stake in Innoviz Technologies in the fourth quarter valued at approximately $25,000. 63.26% of the stock is owned by hedge funds and other institutional investors.

Innoviz Technologies Trading Down 4.8 %

Shares of Innoviz Technologies stock traded down $0.08 on Wednesday, reaching $1.49. The stock had a trading volume of 3,246,687 shares, compared to its average volume of 11,392,532. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $3.14. The company has a market cap of $202.23 million, a P/E ratio of -2.32 and a beta of 0.72. The business's 50 day moving average is $1.40 and its two-hundred day moving average is $0.95.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INVZ shares. The Goldman Sachs Group lowered their price objective on shares of Innoviz Technologies from $1.00 to $0.75 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Cantor Fitzgerald lowered shares of Innoviz Technologies from an "overweight" rating to a "neutral" rating in a research report 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 target price for the company. Finally, Rosenblatt Securities raised shares of Innoviz Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $3.01.

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.