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

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 11,284 call options on the company. This is an increase of 52% compared to the average daily volume of 7,415 call options.

Analyst Ratings Changes

A number of equities analysts have recently commented on INVZ shares. 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 initiated coverage on Innoviz Technologies in a research report on Wednesday, November 27th. They set a "buy" rating and a $1.30 target price for the company. 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 report on Thursday, November 14th. Finally, Rosenblatt Securities upgraded Innoviz Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.01.

Innoviz Technologies Price Performance

NASDAQ INVZ traded up $0.27 during midday trading on Wednesday, hitting $1.70. 11,027,562 shares of the company traded hands, compared to its average volume of 19,361,969. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $3.14. The company's 50-day simple moving average is $1.08 and its 200-day simple moving average is $0.87. The company has a market cap of $231.51 million, a PE ratio of -2.66 and a beta of 0.73.

Institutional Investors Weigh In On Innoviz Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. Choreo LLC purchased a new position in Innoviz Technologies in the second quarter worth $185,000. SkyView Investment Advisors LLC purchased a new position in Innoviz Technologies in the second quarter worth $371,000. Interval Partners LP increased its position in shares of Innoviz Technologies by 19.6% during the second 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 in the last quarter. Finally, Polar Asset Management Partners Inc. lifted its holdings in shares of Innoviz Technologies by 29.6% during 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 purchasing an additional 735,300 shares during the last quarter. Institutional investors own 63.26% of the company's stock.

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.