Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Update

Innoviz Technologies Ltd. (NASDAQ:INVZ) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 12,150,000 shares, a growth of 20.9% from the December 15th total of 10,050,000 shares. Based on an average trading volume of 6,220,000 shares, the short-interest ratio is presently 2.0 days. Approximately 7.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. Rosenblatt Securities upgraded shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $3.25 to $4.00 in a research report on Friday, December 20th. Finally, Westpark Capital began coverage on shares of Innoviz Technologies in a report on Wednesday, November 27th. They issued a “buy” rating and a $1.30 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.01.

Institutional Trading of Innoviz Technologies

Institutional investors have recently made changes to their positions in the stock. Traynor Capital Management Inc. bought a new stake in Innoviz Technologies during the 4th quarter valued at $25,000. Koshinski Asset Management Inc. purchased a new position in shares of Innoviz Technologies in the fourth quarter valued at about $169,000. FNY Investment Advisers LLC bought a new position in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. Polar Asset Management Partners Inc. boosted its holdings in shares of Innoviz Technologies by 29.6% during the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after purchasing an additional 735,300 shares during the period. Finally, SkyView Investment Advisors LLC purchased a new position in Innoviz Technologies during the 2nd quarter valued at about $371,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Price Performance

Shares of INVZ stock opened at $1.62 on Friday. The business has a 50-day moving average of $1.14 and a 200 day moving average of $0.89. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $3.14. The stock has a market capitalization of $220.62 million, a PE ratio of -2.53 and a beta of 0.73.

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.