Innoviz Technologies (NASDAQ:INVZ) Rating Increased to Buy at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Innoviz Technologies (NASDAQ:INVZ) from a neutral rating to a buy rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has $4.00 price target on the stock, up from their previous price target of $3.25.

Several other analysts have also recently issued reports on INVZ. Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. 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. Finally, The Goldman Sachs Group reduced their target price on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.01.

Innoviz Technologies Price Performance

INVZ stock opened at $1.15 on Friday. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $2.82. The firm has a market capitalization of $156.61 million, a PE ratio of -1.80 and a beta of 1.18. The business has a 50 day simple moving average of $0.72 and a 200-day simple moving average of $0.78.

Institutional Investors Weigh In On Innoviz Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ground Swell Capital LLC purchased a new position in shares of Innoviz Technologies during the 2nd quarter worth approximately $26,000. Choreo LLC acquired a new position in Innoviz Technologies during the second quarter worth $185,000. SkyView Investment Advisors LLC purchased a new position in shares of Innoviz Technologies during the second quarter worth $371,000. Interval Partners LP grew its stake in shares of Innoviz Technologies by 19.6% in the second quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after buying an additional 444,823 shares in the last quarter. Finally, Polar Asset Management Partners Inc. lifted its stake in Innoviz Technologies by 29.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after acquiring an additional 735,300 shares in the last quarter. 63.26% of the stock is owned by hedge funds and other institutional investors.

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.