Innoviz Technologies Experiences Surge in Options Trading

Innoviz Technologies Ltd. (NASDAQ:INVZ – Get Free Report) saw a significant increase in options trading activity on Monday. Traders purchased a total of 12,194 call options for the company, representing a remarkable rise of nearly 49% when compared to the usual volume of 8,170 call options.

Analyst Ratings Changes

Several research analysts have recently provided updates on INVZ shares. On November 14th, Cantor Fitzgerald downgraded Innoviz Technologies from an "overweight" rating to a "neutral" rating. Moving forward, on December 20th, Rosenblatt Securities upgraded Innoviz Technologies from a "neutral" rating to a "buy" rating, while also increasing their price target from $3.25 to $4.00. Additionally, Westpark Capital began coverage of Innoviz Technologies on November 27th, giving the stock a "buy" rating with a price target of $1.30. However, on the same day as Cantor Fitzgerald's downgrade, The Goldman Sachs Group revised their price target for Innoviz Technologies down from $1.00 to $0.75 while maintaining a "neutral" rating. Overall, two analysts recommend holding the stock, while three have a "buy" rating. Data from MarketBeat.com shows that the stock has an average rating of "Moderate Buy" and an average price target of $3.01.

Innoviz Technologies Price Performance

On Tuesday, NASDAQ:INVZ opened at $1.18. The company’s 50-day simple moving average is $1.46, and its 200-day simple moving average is $0.97. Innoviz Technologies has experienced a one-year low of $0.45 and a high of $3.14, and currently holds a market capitalization of $160.69 million, with a price-to-earnings ratio of -1.84 and a beta of 0.72.

Institutional Trading of Innoviz Technologies

Recently, several institutional investors have bought and sold shares of Innoviz Technologies. In the fourth quarter, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Innoviz Technologies by 13.5%, acquiring an additional 810,731 shares to reach a total of 6,805,731 shares, valued at approximately $11,434,000. Polar Asset Management Partners Inc. raised its stake by 29.6% during the third quarter, now owning 3,219,400 shares valued at $2,665,000 after adding 735,300 shares. Summit X LLC grew its position by 218.3% in the fourth quarter, adding 188,876 shares to reach a total of 275,417 shares worth $463,000. Additionally, Koshinski Asset Management Inc. and SBI Securities Co. Ltd. have bought new stakes in Innoviz Technologies, valued at $169,000 and $156,000, respectively. Institutional investors now control 63.26% of the stock.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. specializes in manufacturing and selling automotive-grade LiDAR sensors and perception software, which are vital for enabling safe and widespread autonomous driving. The company’s flagship product, InnovizOne, is a solid-state LiDAR sensor designed for automakers and various transportation services like robotaxis, shuttles, trucks, and delivery vehicles that require a reliable, automotive-grade, mass-producible solution for achieving autonomy.

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Innoviz, Technology, Trading