Innoviz Technologies Ltd. (NASDAQ:INVZ) Position Boosted by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC has increased its stake in Innoviz Technologies by 400%, acquiring an additional 400,000 shares, bringing its total holdings to 500,000 shares valued at approximately $326,000.
• Multiple hedge funds have also adjusted their investments, with Migdal Insurance boosting its holding by 7.3% and SBI Securities increasing by 237%, indicating growing institutional interest in the company.
• Analysts have mixed opinions on Innoviz Technologies, with a consensus rating of "Hold" and an average target price of $2.38 per share, while some analysts maintain a "buy" rating with higher price objectives.

New Age Alpha Advisors LLC grew its holdings in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 400.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 500,000 shares of the company's stock after purchasing an additional 400,000 shares during the period. New Age Alpha Advisors LLC owned 0.25% of Innoviz Technologies worth $326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Schonfeld Strategic Advisors LLC raised its holdings in shares of Innoviz Technologies by 12.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company's stock worth $266,000 after purchasing an additional 16,900 shares during the period. Lido Advisors LLC bought a new position in shares of Innoviz Technologies during the fourth quarter worth about $29,000. OneDigital Investment Advisors LLC bought a new position in shares of Innoviz Technologies during the fourth quarter worth about $37,000. XTX Topco Ltd bought a new position in shares of Innoviz Technologies during the fourth quarter worth about $80,000. Finally, Koshinski Asset Management Inc. grew its position in shares of Innoviz Technologies by 49.5% during the first quarter. Koshinski Asset Management Inc. now owns 150,000 shares of the company's stock worth $98,000 after acquiring an additional 49,692 shares during the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INVZ has been the subject of several recent research reports. Wall Street Zen upgraded shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Westpark Capital upped their price target on shares of Innoviz Technologies from $2.22 to $2.53 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Rosenblatt Securities restated a "buy" rating and set a $4.00 price target on shares of Innoviz Technologies in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group upped their price target on shares of Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $2.38.

Innoviz Technologies Trading Up 1.8%

INVZ traded up $0.03 on Monday, reaching $1.70. The company had a trading volume of 6,708,405 shares, compared to its average volume of 8,234,307. The company has a fifty day moving average of $1.44 and a 200-day moving average of $1.05. The company has a market capitalization of $338.23 million, a P/E ratio of -3.70 and a beta of 1.25. Innoviz Technologies Ltd. has a one year low of $0.45 and a one year high of $3.14.

Innoviz Technologies 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.