Innoviz Technologies Ltd. (NASDAQ:INVZ – Get 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.
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
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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