Rosenblatt Securities Upgrades Innoviz Technologies (NASDAQ:INVZ) to “Buy”

Innoviz Technologies (NASDAQ:INVZ) was upgraded by investment analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat.com reports. The firm presently has a $4.00 target price on the stock, up from their previous target price of $3.25. Rosenblatt Securities’ target price would suggest a potential upside of 247.83% from the stock’s current price.

A number of other brokerages also recently commented on INVZ. Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. The Goldman Sachs Group reduced their target price on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Westpark Capital started coverage on shares of Innoviz Technologies in a research note on Wednesday, November 27th. They issued a “buy” rating and a $1.30 price target for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Innoviz Technologies presently has an average rating of “Moderate Buy” and an average price target of $3.01.

Innoviz Technologies Trading Up 9.5 %

Shares of INVZ stock opened at $1.15 on Friday. The company’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $0.78. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $2.82. The company has a market cap of $156.61 million, a PE ratio of -1.80 and a beta of 1.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INVZ. Ground Swell Capital LLC acquired a new stake in Innoviz Technologies during the second quarter valued at approximately $26,000. Choreo LLC purchased a new stake in Innoviz Technologies during the second quarter valued at about $185,000. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies during the second quarter valued at approximately $371,000. Interval Partners LP lifted its position in shares of Innoviz Technologies by 19.6% in the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after acquiring an additional 444,823 shares in the last quarter. Finally, Polar Asset Management Partners Inc. boosted its stake in Innoviz Technologies by 29.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after purchasing an additional 735,300 shares during the period. Institutional investors 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.