Westpark Capital Begins Coverage on Innoviz Technologies (NASDAQ:INVZ)

Westpark Capital started 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 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Rosenblatt Securities reissued a “neutral” rating and set a $3.25 price target on shares of Innoviz Technologies in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group cut their price objective on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.86.

Innoviz Technologies Stock Up 7.1 %

Shares of INVZ stock opened at $0.76 on Wednesday. The firm has a market cap of $103.55 million, a price-to-earnings ratio of -1.19 and a beta of 1.06. Innoviz Technologies has a 52-week low of $0.45 and a 52-week high of $2.99. The company’s 50 day moving average is $0.70 and its 200 day moving average is $0.80.

Institutional Investors Weigh In On Innoviz Technologies

Large investors have recently modified their holdings of the business. Cowen AND Company LLC raised its position in shares of 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 purchasing an additional 6,172,864 shares during the last quarter. Polar Asset Management Partners Inc. increased 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 valued at $2,665,000 after purchasing an additional 735,300 shares in the last quarter. Interval Partners LP raised its holdings 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 worth $2,519,000 after buying an additional 444,823 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies during the second quarter worth $371,000. Finally, Choreo LLC acquired a new stake in shares of Innoviz Technologies during the second quarter worth $185,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Company Profile

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.