Innoviz Technologies (NASDAQ:INVZ) Upgraded by Rosenblatt Securities to Buy Rating

Rosenblatt Securities upgraded shares of Innoviz Technologies (NASDAQ:INVZ) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat reports. They currently have $4.00 price target on the stock, up from their prior price target of $3.25.

INVZ has been the subject of a number of other research reports. Westpark Capital began coverage on shares of Innoviz Technologies in a report on Wednesday, November 27th. They issued a “buy” rating and a $1.30 price objective for the company. The Goldman Sachs Group cut their price target on 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, Cantor Fitzgerald downgraded Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $3.01.

Innoviz Technologies Price Performance

NASDAQ:INVZ opened at $1.15 on Friday. The company has a 50 day moving average price of $0.72 and a 200-day moving average price of $0.78. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $2.82. The firm has a market cap of $156.61 million, a price-to-earnings ratio of -1.80 and a beta of 1.18.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of INVZ. Ground Swell Capital LLC acquired a new stake in Innoviz Technologies in the 2nd quarter worth about $26,000. Choreo LLC purchased a new position in shares of Innoviz Technologies in the second quarter valued at approximately $185,000. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies in the second quarter worth approximately $371,000. Interval Partners LP increased its position in shares of Innoviz Technologies by 19.6% during the second quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock worth $2,519,000 after purchasing an additional 444,823 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its stake in Innoviz Technologies by 29.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock valued at $2,665,000 after purchasing an additional 735,300 shares during the last quarter. Institutional investors and hedge funds 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.