Innoviz Technologies Sees Unusually Large Options Volume (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the recipient of unusually large options trading on Monday. Traders purchased 12,194 call options on the company. This represents an increase of 49% compared to the average volume of 8,170 call options.

Institutional Investors Weigh In On Innoviz Technologies

Several large investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Innoviz Technologies by 13.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock worth $11,434,000 after acquiring an additional 810,731 shares in the last quarter. Polar Asset Management Partners Inc. increased its position in shares of 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 acquiring an additional 735,300 shares during the period. Summit X LLC lifted its holdings in Innoviz Technologies by 218.3% in the 4th quarter. Summit X LLC now owns 275,417 shares of the company’s stock worth $463,000 after buying an additional 188,876 shares during the period. Koshinski Asset Management Inc. bought a new stake in shares of Innoviz Technologies in the 4th quarter worth approximately $169,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Innoviz Technologies during the fourth quarter valued at approximately $156,000. Institutional investors own 63.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INVZ shares. Westpark Capital started coverage on Innoviz Technologies in a report on Wednesday, November 27th. They issued a “buy” rating and a $1.30 target price on the stock. Rosenblatt Securities raised shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Cantor Fitzgerald lowered Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group lowered 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Innoviz Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $3.01.

Innoviz Technologies Price Performance

NASDAQ INVZ opened at $1.18 on Tuesday. The company’s 50 day simple moving average is $1.46 and its two-hundred day simple moving average is $0.97. The stock has a market capitalization of $160.69 million, a PE ratio of -1.84 and a beta of 0.72. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $3.14.

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.