Innoviz Technologies (NASDAQ:INVZ) Now Covered by Westpark Capital

Westpark Capital initiated coverage on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage issued a buy rating and a $1.30 price objective on the stock.

Several other brokerages also recently commented on INVZ. Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Rosenblatt Securities restated a “neutral” rating and set a $3.25 target price on shares of Innoviz Technologies in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group cut their price target on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Innoviz Technologies has a consensus rating of “Hold” and a consensus target price of $2.86.

Innoviz Technologies Stock Up 4.8 %

Shares of INVZ stock opened at $0.71 on Wednesday. The company has a market capitalization of $96.65 million, a P/E ratio of -1.11 and a beta of 1.06. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $2.99. The firm has a 50-day moving average price of $0.70 and a 200 day moving average price of $0.81.

Institutional Investors Weigh In On Innoviz Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cowen AND Company LLC boosted its holdings in Innoviz Technologies by 315.8% in the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after acquiring an additional 6,172,864 shares during the last quarter. Polar Asset Management Partners Inc. boosted its stake in shares of Innoviz Technologies by 29.6% in 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. Interval Partners LP boosted its stake in shares of Innoviz Technologies by 19.6% in the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after purchasing an additional 444,823 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies during the 2nd quarter worth approximately $371,000. Finally, Choreo LLC bought a new stake in shares of Innoviz Technologies during the second quarter worth approximately $185,000. 63.26% of the stock is owned by institutional investors and hedge funds.

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.