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

Equities researchers at Westpark Capital started coverage on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $1.30 price target on the stock. Westpark Capital’s target price points to a potential upside of 82.92% from the company’s current price.

INVZ has been the subject of several other research reports. The Goldman Sachs Group reduced 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. Rosenblatt Securities reiterated a “neutral” rating and issued a $3.25 target price on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.86.

Innoviz Technologies Stock Up 5.0 %

INVZ stock traded up $0.03 during mid-day trading on Wednesday, reaching $0.71. 220,843 shares of the stock traded hands, compared to its average volume of 2,060,819. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $2.99. The business has a 50-day moving average of $0.70 and a two-hundred day moving average of $0.81. The firm has a market capitalization of $96.78 million, a PE ratio of -1.11 and a beta of 1.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVZ. Ground Swell Capital LLC bought a new position in Innoviz Technologies during the second quarter worth about $26,000. Virtu Financial LLC lifted its stake 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 period. Choreo LLC bought a new position in Innoviz Technologies during the second quarter worth about $185,000. Tidal Investments LLC bought a new position in Innoviz Technologies during the first quarter worth about $258,000. Finally, SkyView Investment Advisors LLC bought a new position in Innoviz Technologies during the second quarter worth about $371,000. 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.