Stock Traders Purchase Large Volume of Innoviz Technologies Call Options (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) saw some unusual options trading activity on Wednesday. Traders purchased 11,284 call options on the company. This represents an increase of 52% compared to the typical volume of 7,415 call options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INVZ. SkyView Investment Advisors LLC acquired a new position in shares of Innoviz Technologies in the second quarter valued at approximately $371,000. Choreo LLC purchased a new stake in Innoviz Technologies in the 2nd quarter worth approximately $185,000. Polar Asset Management Partners Inc. raised its holdings in Innoviz Technologies by 29.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company's stock valued at $2,665,000 after acquiring an additional 735,300 shares during the last quarter. Interval Partners LP lifted its stake in shares of Innoviz Technologies by 19.6% during the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company's stock worth $2,519,000 after purchasing an additional 444,823 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Innoviz Technologies during the fourth quarter worth $169,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

Innoviz Technologies Trading Up 1.2 %

Shares of NASDAQ:INVZ traded up $0.02 on Thursday, hitting $1.72. The company had a trading volume of 7,902,007 shares, compared to its average volume of 18,219,391. The company has a market cap of $234.23 million, a PE ratio of -2.69 and a beta of 0.73. Innoviz Technologies has a 52-week low of $0.45 and a 52-week high of $3.14. The business has a 50 day moving average of $1.10 and a 200 day moving average of $0.87.

Analyst Upgrades and Downgrades

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

About Innoviz Technologies

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.