Innoviz Technologies Sees Unusually Large Options Volume (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZ - Get Free Report) saw unusually large options trading on Tuesday. Traders acquired 15,232 call options on the stock. This represents an increase of approximately 452% compared to the average daily volume of 2,757 call options.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INVZ. HITE Hedge Asset Management LLC bought a new position in Innoviz Technologies in the 4th quarter worth about $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Innoviz Technologies in the 4th quarter worth about $1,932,000. Nomura Holdings Inc. boosted its stake in Innoviz Technologies by 272.5% in the 4th quarter. Nomura Holdings Inc. now owns 791,520 shares of the company's stock worth $1,330,000 after purchasing an additional 579,020 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Innoviz Technologies by 7.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company's stock worth $4,763,000 after purchasing an additional 500,000 shares during the period. Finally, New Age Alpha Advisors LLC boosted its stake in Innoviz Technologies by 400.0% in the 1st quarter. New Age Alpha Advisors LLC now owns 500,000 shares of the company's stock worth $326,000 after purchasing an additional 400,000 shares during the period. Institutional investors own 63.26% of the company's stock.

Innoviz Technologies Stock Performance

NASDAQ INVZ traded up $0.01 during trading hours on Friday, hitting $1.33. The company had a trading volume of 27,802,198 shares, compared to its average volume of 5,022,860. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $3.14. The firm has a 50 day simple moving average of $0.87 and a 200 day simple moving average of $1.02. The firm has a market capitalization of $264.62 million, a price-to-earnings ratio of -2.89 and a beta of 0.98.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Westpark Capital increased their price target on Innoviz Technologies from $2.22 to $2.53 and gave the stock a "buy" rating in a research note on Wednesday. Rosenblatt Securities reiterated a "buy" rating and set a $4.00 price target on shares of Innoviz Technologies in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.38.

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.