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

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the recipient of unusually large options trading on Thursday. Traders bought 8,723 call options on the stock. This represents an increase of 192% compared to the average daily volume of 2,989 call options.

Analysts Set New Price Targets

INVZ has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $4.00 price objective on shares of Innoviz Technologies in a report on Thursday, May 15th. The Goldman Sachs Group lifted their price objective on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wall Street Zen raised shares of Innoviz Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Westpark Capital lifted their price target on shares of Innoviz Technologies from $2.22 to $2.53 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Innoviz Technologies currently has an average rating of “Hold” and an average target price of $2.38.

Institutional Trading of Innoviz Technologies

Several large investors have recently bought and sold shares of INVZ. Lido Advisors LLC acquired a new position in shares of Innoviz Technologies in the 4th quarter worth approximately $29,000. OneDigital Investment Advisors LLC acquired a new stake in Innoviz Technologies during the 4th quarter worth approximately $37,000. Arkadios Wealth Advisors acquired a new stake in shares of Innoviz Technologies in the 1st quarter valued at $40,000. NewEdge Advisors LLC raised its holdings in shares of Innoviz Technologies by 499.6% in the 1st quarter. NewEdge Advisors LLC now owns 70,021 shares of the company’s stock valued at $46,000 after purchasing an additional 58,343 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Innoviz Technologies in the 4th quarter valued at $80,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Trading Up 5.0%

Shares of NASDAQ INVZ opened at $1.68 on Friday. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14. The stock has a market cap of $334.25 million, a PE ratio of -3.65 and a beta of 1.26. The company has a 50-day moving average of $1.08 and a 200 day moving average of $1.08.

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.