Innoviz Technologies (NASDAQ:INVZ) Raised to “Buy” at Rosenblatt Securities

Innoviz Technologies (NASDAQ:INVZ) was upgraded by investment analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports. The firm presently has a $4.00 price target on the stock, up from their previous price target of $3.25. Rosenblatt Securities’ target price suggests a potential upside of 280.95% from the stock’s current price.

Several other equities research analysts have also commented on INVZ. Cantor Fitzgerald lowered Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Westpark Capital initiated coverage on Innoviz Technologies in a research note on Wednesday, November 27th. They issued a “buy” rating and a $1.30 price objective on the stock. Finally, The Goldman Sachs Group cut their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3.01.

Innoviz Technologies Trading Down 8.7 %

Shares of NASDAQ INVZ opened at $1.05 on Friday. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $2.97. The firm has a market capitalization of $142.99 million, a price-to-earnings ratio of -1.64 and a beta of 1.18. The firm has a 50 day moving average of $0.71 and a 200 day moving average of $0.77.

Hedge Funds Weigh In On Innoviz Technologies

Several large investors have recently made changes to their positions in INVZ. Ground Swell Capital LLC purchased a new stake in shares of Innoviz Technologies during the second quarter worth about $26,000. Choreo LLC purchased a new position in Innoviz Technologies in the 2nd quarter worth approximately $185,000. SkyView Investment Advisors LLC bought a new position in Innoviz Technologies in the 2nd quarter worth approximately $371,000. Interval Partners LP grew its holdings in Innoviz Technologies by 19.6% during the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after buying an additional 444,823 shares in the last quarter. Finally, 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 valued at $2,665,000 after buying an additional 735,300 shares during the last quarter. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

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.