Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Up 20.9% in January

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 12,150,000 shares, a growth of 20.9% from the December 31st total of 10,050,000 shares. Approximately 7.2% of the shares of the stock are short sold. Based on an average trading volume of 6,220,000 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of Innoviz Technologies

Several large investors have recently modified their holdings of the business. Traynor Capital Management Inc. bought a new position in Innoviz Technologies during the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC purchased a new position in shares of Innoviz Technologies during the fourth quarter valued at approximately $25,000. Koshinski Asset Management Inc. bought a new position in shares of Innoviz Technologies during the fourth quarter valued at approximately $169,000. Polar Asset Management Partners Inc. lifted its stake in Innoviz Technologies by 29.6% in the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after acquiring an additional 735,300 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Innoviz Technologies by 13.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock valued at $11,434,000 after acquiring an additional 810,731 shares in the last quarter. 63.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald lowered shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. The Goldman Sachs Group lowered their price target on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Rosenblatt Securities raised Innoviz Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Westpark Capital initiated coverage on Innoviz Technologies in a research note on Wednesday, November 27th. They issued a “buy” rating and a $1.30 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.01.

Innoviz Technologies Price Performance

Shares of Innoviz Technologies stock opened at $1.55 on Friday. The company’s fifty day simple moving average is $1.37 and its two-hundred day simple moving average is $0.94. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14.

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.