Innoviz Technologies (NASDAQ:INVZ) Price Target Raised to $2.53 at Westpark Capital

Innoviz Technologies (NASDAQ:INVZ - Free Report) had its price target hoisted by Westpark Capital from $2.22 to $2.53 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on INVZ. The Goldman Sachs Group lifted their price target on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $2.38.

Innoviz Technologies Trading Up 0.8%

INVZ traded up $0.01 during trading on Wednesday, hitting $1.33. The company's stock had a trading volume of 27,802,198 shares, compared to its average volume of 5,033,665. The firm has a market capitalization of $264.62 million, a price-to-earnings ratio of -2.89 and a beta of 0.98. Innoviz Technologies has a twelve month low of $0.45 and a twelve month high of $3.14. The business's fifty day simple moving average is $0.87 and its 200 day simple moving average is $1.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sprott Inc. purchased a new stake in shares of Innoviz Technologies during the fourth quarter worth $54,000. SBI Securities Co. Ltd. purchased a new stake in Innoviz Technologies during the 4th quarter valued at about $156,000. Raymond James Financial Inc. purchased a new stake in Innoviz Technologies during the 4th quarter valued at about $87,000. Summit X LLC raised its holdings in Innoviz Technologies by 218.3% in the 4th quarter. Summit X LLC now owns 275,417 shares of the company's stock valued at $463,000 after acquiring an additional 188,876 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Innoviz Technologies in the 4th quarter worth approximately $168,000. Hedge funds and other 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.