Short Interest in Innoviz Technologies Ltd. (NASDAQ:INVZ) Expands By 20.9%

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INVZ. Rosenblatt Securities upgraded Innoviz Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Cantor Fitzgerald lowered shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reduced their target price 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. Finally, Westpark Capital initiated coverage on shares of Innoviz Technologies in a research note on Wednesday, November 27th. They issued a “buy” rating and a $1.30 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.01.

Innoviz Technologies Trading Down 5.8 %

INVZ stock traded down $0.10 during midday trading on Friday, hitting $1.62. The company had a trading volume of 7,615,049 shares, compared to its average volume of 17,256,648. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $3.14. The stock has a market cap of $220.61 million, a price-to-earnings ratio of -2.53 and a beta of 0.73. The stock’s 50 day moving average price is $1.12 and its 200 day moving average price is $0.88.

Institutional Investors Weigh In On Innoviz Technologies

Several institutional investors have recently added to or reduced their stakes in INVZ. Traynor Capital Management Inc. purchased a new stake in shares of Innoviz Technologies in the 4th quarter worth about $25,000. FNY Investment Advisers LLC bought a new stake in shares of Innoviz Technologies in the 4th quarter worth $25,000. Koshinski Asset Management Inc. purchased a new stake in shares of Innoviz Technologies during the 4th quarter valued at about $169,000. Choreo LLC bought a new stake in shares of Innoviz Technologies in the second quarter worth $185,000. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Innoviz Technologies during the 2nd quarter valued at about $371,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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.