Westpark Capital Begins Coverage on Innoviz Technologies (NASDAQ:INVZ)

Equities research analysts at Westpark Capital began coverage on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $1.30 price target on the stock. Westpark Capital’s price objective points to a potential upside of 83.18% from the company’s previous close.

Several other brokerages have also recently weighed in on INVZ. Rosenblatt Securities reiterated a “neutral” rating and set a $3.25 price target on shares of Innoviz Technologies in a research report on Tuesday, September 10th. Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group decreased their price target 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.86.

Innoviz Technologies Price Performance

NASDAQ:INVZ opened at $0.71 on Wednesday. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $2.99. The stock’s fifty day moving average price is $0.70 and its two-hundred day moving average price is $0.81. The company has a market cap of $96.65 million, a P/E ratio of -1.11 and a beta of 1.06.

Hedge Funds Weigh In On Innoviz Technologies

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC purchased a new position in Innoviz Technologies in the first quarter worth $258,000. Virtu Financial LLC boosted its holdings in shares of Innoviz Technologies by 85.2% in the 1st 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. Choreo LLC bought a new position in shares of Innoviz Technologies during the 2nd quarter valued at about $185,000. Cowen AND Company LLC raised its holdings in shares of Innoviz Technologies by 315.8% during the 2nd quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after buying an additional 6,172,864 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new stake in Innoviz Technologies in the 2nd quarter worth approximately $26,000. Institutional investors own 63.26% of the company’s stock.

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.