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

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 9,450,000 shares, a drop of 17.0% from the October 31st total of 11,390,000 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is currently 6.3 days.

Innoviz Technologies Trading Up 7.1 %

INVZ stock traded up $0.05 during mid-day trading on Friday, hitting $0.76. 1,429,505 shares of the company were exchanged, compared to its average volume of 2,065,637. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $2.99. The stock has a market capitalization of $103.50 million, a PE ratio of -1.19 and a beta of 1.06. The business has a 50 day simple moving average of $0.70 and a 200-day simple moving average of $0.80.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. The Goldman Sachs Group cut their price objective on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Rosenblatt Securities restated a “neutral” rating and issued a $3.25 target price on shares of Innoviz Technologies in a report on Tuesday, September 10th. Finally, Westpark Capital started coverage on shares of Innoviz Technologies in a research report on Wednesday. They set a “buy” rating and a $1.30 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.86.

Hedge Funds Weigh In On Innoviz Technologies

Several large investors have recently bought and sold shares of INVZ. Ground Swell Capital LLC acquired a new stake in Innoviz Technologies in the second quarter worth $26,000. Virtu Financial LLC increased its position in Innoviz Technologies by 85.2% in the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock valued at $116,000 after buying an additional 39,633 shares in the last quarter. Tidal Investments LLC acquired a new position in Innoviz Technologies during the 1st quarter worth approximately $258,000. Choreo LLC bought a new position in Innoviz Technologies in the second quarter worth approximately $185,000. Finally, SkyView Investment Advisors LLC acquired a new stake in Innoviz Technologies in the second quarter valued at approximately $371,000. 63.26% of the stock is currently owned by institutional investors.

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.