Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Down 17.0% in November

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 9,450,000 shares, a drop of 17.0% from the October 31st total of 11,390,000 shares. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is presently 6.3 days. Approximately 5.6% of the shares of the stock are sold short.

Institutional Trading of Innoviz Technologies

Several institutional investors have recently modified their holdings of INVZ. Cowen AND Company LLC raised its position in Innoviz Technologies by 315.8% during the 2nd quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock worth $7,538,000 after purchasing an additional 6,172,864 shares during the last quarter. Polar Asset Management Partners Inc. raised its position in shares of Innoviz Technologies by 29.6% during 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 last quarter. Interval Partners LP lifted its stake in shares of Innoviz Technologies by 19.6% in the second quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock worth $2,519,000 after acquiring an additional 444,823 shares during the period. SkyView Investment Advisors LLC bought a new stake in Innoviz Technologies in the second quarter valued at approximately $371,000. Finally, Choreo LLC bought a new stake in Innoviz Technologies in the second quarter valued at approximately $185,000. Institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Trading Down 6.4 %

INVZ traded down $0.05 during trading on Monday, reaching $0.71. 1,205,283 shares of the company’s stock were exchanged, compared to its average volume of 2,061,933. The firm has a fifty day moving average price of $0.70 and a two-hundred day moving average price of $0.80. The stock has a market capitalization of $96.87 million, a PE ratio of -1.11 and a beta of 1.06. Innoviz Technologies has a one year low of $0.45 and a one year high of $2.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INVZ shares. Rosenblatt Securities restated a “neutral” rating and issued a $3.25 price target on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Westpark Capital began coverage on shares of Innoviz Technologies in a research report on Wednesday, November 27th. They issued a “buy” rating and a $1.30 target price on the stock. 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 report on Thursday, November 14th. Finally, Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Innoviz Technologies has a consensus rating of “Hold” and a consensus target price of $2.86.

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.