Innoviz Technologies (NASDAQ:INVZ) Coverage Initiated at Westpark Capital

Westpark Capital began coverage on shares of Innoviz Technologies (NASDAQ:INVZ) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage issued a buy rating and a $1.30 target price on the stock.

Several other brokerages also recently commented on INVZ. The Goldman Sachs Group lowered their target price on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $3.25 price target on shares of Innoviz Technologies in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.86.

Innoviz Technologies Trading Up 4.8 %

Innoviz Technologies stock opened at $0.71 on Wednesday. The firm has a market capitalization of $96.65 million, a P/E ratio of -1.11 and a beta of 1.06. The business has a 50-day moving average of $0.70 and a 200-day moving average of $0.81. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $2.99.

Institutional Investors Weigh In On Innoviz Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of INVZ. Tidal Investments LLC bought a new position in shares of Innoviz Technologies during the 1st quarter worth approximately $258,000. Virtu Financial LLC boosted its holdings in Innoviz Technologies by 85.2% during the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after purchasing an additional 39,633 shares during the last quarter. Choreo LLC bought a new position in Innoviz Technologies in the second quarter valued at $185,000. Cowen AND Company LLC increased its stake in Innoviz Technologies by 315.8% in the 2nd quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after buying an additional 6,172,864 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new stake in Innoviz Technologies during the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

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.