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

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the recipient of unusually large options trading on Monday. Stock investors bought 12,194 call options on the company. This is an increase of 49% compared to the average volume of 8,170 call options.

Innoviz Technologies Stock Down 24.8 %

INVZ traded down $0.40 during mid-day trading on Monday, reaching $1.20. 19,005,675 shares of the company traded hands, compared to its average volume of 11,185,189. Innoviz Technologies has a 52-week low of $0.45 and a 52-week high of $3.14. The company’s fifty day moving average price is $1.45 and its 200-day moving average price is $0.96. The stock has a market capitalization of $162.74 million, a P/E ratio of -1.87 and a beta of 0.72.

Analyst Ratings Changes

Several equities research analysts have commented on INVZ shares. Westpark Capital began coverage on Innoviz Technologies in a report on Wednesday, November 27th. They issued a “buy” rating and a $1.30 target price on the stock. Rosenblatt Securities raised shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. The Goldman Sachs Group dropped 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. Finally, Cantor Fitzgerald lowered Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Innoviz Technologies currently has an average rating of “Moderate Buy” and an average price target of $3.01.

Institutional Investors Weigh In On Innoviz Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in INVZ. Traynor Capital Management Inc. bought a new position in shares of Innoviz Technologies in the fourth quarter worth about $25,000. FNY Investment Advisers LLC purchased a new position in shares of Innoviz Technologies in the 4th quarter worth $25,000. Sprott Inc. bought a new stake in shares of Innoviz Technologies in the 4th quarter worth about $54,000. Raymond James Financial Inc. bought a new stake in shares of Innoviz Technologies in the 4th quarter worth about $87,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Innoviz Technologies during the 4th quarter valued at about $156,000. 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.