Traders Buy High Volume of Innoviz Technologies Call Options (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) saw some unusual options trading activity on Tuesday. Stock investors purchased 15,232 call options on the stock. This is an increase of approximately 452% compared to the typical daily volume of 2,757 call options.

Innoviz Technologies Price Performance

INVZ traded up $0.25 during trading on Tuesday, reaching $1.19. The company had a trading volume of 17,972,473 shares, compared to its average volume of 4,787,181. Innoviz Technologies has a 12 month low of $0.45 and a 12 month high of $3.14. The business's fifty day moving average price is $0.81 and its 200 day moving average price is $1.01. The company has a market cap of $235.77 million, a P/E ratio of -1.82 and a beta of 0.98.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INVZ shares. The Goldman Sachs Group lifted their price objective on shares of Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Rosenblatt Securities reissued a "buy" rating and set a $4.00 price objective on shares of Innoviz Technologies in a research note on Thursday, May 15th. Wall Street Zen raised shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $2.22 price target on shares of Innoviz Technologies in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Innoviz Technologies presently has an average rating of "Hold" and a consensus target price of $2.31.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INVZ. Nomura Holdings Inc. raised its holdings in shares of 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 purchasing an additional 579,020 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at approximately $1,972,000. Raymond James Financial Inc. acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at approximately $87,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at approximately $1,932,000. Finally, Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 56,879 shares during the last quarter. 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.

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