Westpark Capital Begins Coverage on Innoviz Technologies (NASDAQ:INVZ)

Equities research analysts at Westpark Capital began coverage on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $1.30 price target on the stock. Westpark Capital’s price objective suggests a potential upside of 82.92% from the company’s previous close.

INVZ has been the topic of several other reports. The Goldman Sachs Group cut their target price on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Rosenblatt Securities reissued a “neutral” rating and set a $3.25 target price on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald downgraded shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Three 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, the company currently has an average rating of “Hold” and a consensus target price of $2.86.

Innoviz Technologies Price Performance

Shares of NASDAQ:INVZ traded up $0.03 on Wednesday, reaching $0.71. 220,843 shares of the company traded hands, compared to its average volume of 2,060,819. Innoviz Technologies has a fifty-two week low of $0.45 and a fifty-two week high of $2.99. The company’s 50 day moving average is $0.70 and its 200-day moving average is $0.81. The stock has a market capitalization of $96.78 million, a PE ratio of -1.11 and a beta of 1.06.

Hedge Funds Weigh In On Innoviz Technologies

A number of hedge funds have recently modified their holdings of INVZ. Ground Swell Capital LLC acquired a new position in Innoviz Technologies during the second quarter worth $26,000. Virtu Financial LLC increased its position in Innoviz Technologies by 85.2% during the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after buying an additional 39,633 shares during the last quarter. Choreo LLC acquired a new position in Innoviz Technologies during the second quarter worth $185,000. Tidal Investments LLC bought a new stake in Innoviz Technologies during the first quarter valued at about $258,000. Finally, SkyView Investment Advisors LLC bought a new stake in Innoviz Technologies during the second quarter valued at about $371,000. 63.26% of the stock is owned by institutional investors and hedge funds.

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.