Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Down 17.0% in November

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 9,450,000 shares, a decrease of 17.0% from the October 31st total of 11,390,000 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,500,000 shares, the short-interest ratio is currently 6.3 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on INVZ. Westpark Capital assumed coverage on shares of Innoviz Technologies in a research report on Wednesday, November 27th. They set a “buy” rating and a $1.30 target price for the company. Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. The Goldman Sachs Group dropped their target price on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $3.25 price target on shares of Innoviz Technologies in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.86.

Innoviz Technologies Price Performance

NASDAQ INVZ traded down $0.05 during trading hours on Monday, reaching $0.71. The company’s stock had a trading volume of 1,205,283 shares, compared to its average volume of 2,061,933. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $2.99. The company’s 50-day moving average is $0.70 and its two-hundred day moving average is $0.80. The firm has a market capitalization of $96.87 million, a price-to-earnings 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 made changes to their positions in the business. Tidal Investments LLC purchased a new stake in Innoviz Technologies in the 1st quarter worth $258,000. Virtu Financial LLC increased its stake in shares of 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 in the last quarter. Choreo LLC acquired a new position in shares of Innoviz Technologies during the 2nd quarter worth about $185,000. Cowen AND Company LLC raised its holdings in shares of Innoviz Technologies by 315.8% during the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after acquiring an additional 6,172,864 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of Innoviz Technologies in the second quarter valued at approximately $26,000. 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.