Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Up 62.5% in February

Innoviz Technologies Ltd. (NASDAQ:INVZGet Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 24,390,000 shares, a growth of 62.5% from the February 13th total of 15,010,000 shares. Based on an average daily trading volume, of 12,070,000 shares, the short-interest ratio is presently 2.0 days. Currently, 12.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Innoviz Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Traynor Capital Management Inc. bought a new position in shares of Innoviz Technologies during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at approximately $25,000. Schonfeld Strategic Advisors LLC lifted its holdings in Innoviz Technologies by 12.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company’s stock worth $266,000 after acquiring an additional 16,900 shares during the period. Lido Advisors LLC purchased a new position in Innoviz Technologies in the fourth quarter worth $29,000. Finally, OneDigital Investment Advisors LLC bought a new position in Innoviz Technologies in the 4th quarter valued at $37,000. 63.26% of the stock is owned by institutional investors.

Innoviz Technologies Stock Up 3.4 %

INVZ stock opened at $0.65 on Monday. The firm has a market capitalization of $110.11 million, a PE ratio of -1.02 and a beta of 0.84. Innoviz Technologies has a twelve month low of $0.45 and a twelve month high of $3.14. The stock’s 50 day moving average is $1.25 and its 200-day moving average is $0.98.

Innoviz Technologies (NASDAQ:INVZGet Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. The business had revenue of $6.03 million for the quarter, compared to analysts’ expectations of $5.86 million. On average, equities research analysts anticipate that Innoviz Technologies will post -0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INVZ shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $4.00 target price on shares of Innoviz Technologies in a research report on Thursday, February 27th. Westpark Capital restated a “buy” rating and set a $2.22 price target on shares of Innoviz Technologies in a research note on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.19.

Get Our Latest Analysis on INVZ

About Innoviz Technologies

(Get Free Report)

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.

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