Investors Purchase Large Volume of Call Options on Innoviz Technologies (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) was the target of some unusual options trading on Thursday. Investors purchased 8,723 call options on the company. This represents an increase of approximately 192% compared to the typical volume of 2,989 call options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on INVZ shares. The Goldman Sachs Group lifted their price objective on Innoviz Technologies from $0.75 to $1.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Westpark Capital upped their price target on Innoviz Technologies from $2.22 to $2.53 and gave the company a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen raised Innoviz Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $4.00 price target on shares of Innoviz Technologies in a report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $2.38.

Innoviz Technologies Stock Performance

Shares of NASDAQ:INVZ traded up $0.01 during midday trading on Friday, reaching $1.69. 7,975,259 shares of the company's stock traded hands, compared to its average volume of 5,501,417. The company has a market cap of $336.25 million, a price-to-earnings ratio of -3.67 and a beta of 1.26. Innoviz Technologies has a one year low of $0.45 and a one year high of $3.14. The stock has a 50 day moving average of $1.10 and a 200 day moving average of $1.07.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INVZ. Nomura Holdings Inc. lifted its holdings in Innoviz Technologies by 272.5% in the fourth quarter. Nomura Holdings Inc. now owns 791,520 shares of the company's stock valued at $1,330,000 after acquiring an additional 579,020 shares during the period. HITE Hedge Asset Management LLC bought a new position in Innoviz Technologies in the fourth quarter valued at about $1,972,000. Raymond James Financial Inc. bought a new position in Innoviz Technologies in the fourth quarter valued at about $87,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Innoviz Technologies in the fourth quarter valued at about $1,932,000. Finally, Millennium Management LLC lifted its holdings in Innoviz Technologies by 511.6% in the fourth quarter. Millennium Management LLC now owns 67,997 shares of the company's stock valued at $114,000 after acquiring an additional 56,879 shares during the period. 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.