Investors Buy Large Volume of Call Options on Innoviz Technologies (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the recipient of unusually large options trading on Thursday. Traders purchased 6,925 call options on the stock. This represents an increase of approximately 242% compared to the typical daily volume of 2,023 call options.

Innoviz Technologies Trading Up 19.9 %

INVZ stock opened at $0.87 on Friday. The firm has a market cap of $118.47 million, a PE ratio of -1.36 and a beta of 1.18. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $2.99. The company has a fifty day simple moving average of $0.68 and a 200 day simple moving average of $0.77.

Analysts Set New Price Targets

INVZ has been the subject of several recent analyst reports. Westpark Capital started coverage on shares of Innoviz Technologies in a report on Wednesday, November 27th. They issued a “buy” rating and a $1.30 target price for the company. The Goldman Sachs Group decreased their target price on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $3.25 target price on shares of Innoviz Technologies in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.86.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Ground Swell Capital LLC acquired a new stake in Innoviz Technologies in the 2nd quarter valued at approximately $26,000. Choreo LLC bought a new stake in shares of Innoviz Technologies in the second quarter valued at approximately $185,000. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies in the second quarter worth $371,000. Interval Partners LP increased its position in 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 acquiring an additional 444,823 shares during the period. Finally, Polar Asset Management Partners Inc. raised its stake in 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. 63.26% of the stock is owned by institutional investors.

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.