Traders Buy High Volume of Innoviz Technologies Put Options (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZGet Rating) was the recipient of unusually large options trading on Thursday. Investors bought 100,151 put options on the stock. This is an increase of 1,007% compared to the typical daily volume of 9,044 put options.

Innoviz Technologies Stock Performance

Shares of INVZ opened at $2.91 on Friday. The stock has a 50 day moving average price of $3.00 and a two-hundred day moving average price of $4.12. The firm has a market capitalization of $396.01 million, a P/E ratio of -3.09 and a beta of 0.49. Innoviz Technologies has a 52 week low of $2.09 and a 52 week high of $6.21.

Innoviz Technologies (NASDAQ:INVZGet Rating) last released its earnings results on Wednesday, March 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The business had revenue of $1.58 million during the quarter, compared to the consensus estimate of $2.20 million. Innoviz Technologies had a negative net margin of 2,105.41% and a negative return on equity of 54.20%. On average, equities analysts forecast that Innoviz Technologies will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $5.00 price objective on shares of Innoviz Technologies in a research note on Thursday, April 6th. The Goldman Sachs Group dropped their price objective on Innoviz Technologies from $7.00 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, April 12th.

Hedge Funds Weigh In On Innoviz Technologies

Several institutional investors have recently bought and sold shares of the company. Cowen AND Company LLC lifted its stake in Innoviz Technologies by 41.3% in the fourth quarter. Cowen AND Company LLC now owns 7,156,390 shares of the company’s stock valued at $28,125,000 after purchasing an additional 2,090,000 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Innoviz Technologies by 1.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,025,914 shares of the company’s stock worth $11,856,000 after acquiring an additional 46,507 shares in the last quarter. Polar Asset Management Partners Inc. lifted its position in shares of Innoviz Technologies by 123.1% during the third quarter. Polar Asset Management Partners Inc. now owns 2,905,300 shares of the company’s stock worth $15,137,000 after acquiring an additional 1,603,300 shares in the last quarter. BlackRock Inc. lifted its position in shares of Innoviz Technologies by 6.3% during the first quarter. BlackRock Inc. now owns 2,057,187 shares of the company’s stock worth $7,200,000 after acquiring an additional 121,696 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Innoviz Technologies by 3.9% in the first quarter. Barclays PLC now owns 1,621,450 shares of the company’s stock worth $5,675,000 after buying an additional 60,892 shares in the last quarter. Hedge funds and other institutional investors own 51.74% of the company’s stock.

Innoviz Technologies Company Profile

(Get Rating)

Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.

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