Innoviz Technologies (NASDAQ:INVZ) Price Target Raised to $2.53

Innoviz Technologies (NASDAQ:INVZ) had its price target increased by Westpark Capital from $2.22 to $2.53 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

INVZ has been the subject of a number of other reports. Rosenblatt Securities reiterated a “buy” rating and set a $4.00 price target on shares of Innoviz Technologies in a report on Thursday, May 15th. The Goldman Sachs Group upped their price target on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Innoviz Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.38.

Innoviz Technologies Stock Performance

Shares of Innoviz Technologies stock opened at $1.33 on Wednesday. Innoviz Technologies has a 52-week low of $0.45 and a 52-week high of $3.14. The stock has a market capitalization of $264.62 million, a price-to-earnings ratio of -2.89 and a beta of 0.98. The company has a fifty day moving average of $0.87 and a 200-day moving average of $1.02.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Innoviz Technologies by 7.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company’s stock worth $4,763,000 after purchasing an additional 500,000 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings in Innoviz Technologies by 10.6% in the 1st quarter. Polar Asset Management Partners Inc. now owns 2,936,369 shares of the company’s stock worth $1,914,000 after purchasing an additional 280,769 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in Innoviz Technologies in the 4th quarter worth $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Innoviz Technologies in the 4th quarter worth $1,932,000. Finally, Nomura Holdings Inc. raised its holdings in Innoviz Technologies by 272.5% in the 4th quarter. Nomura Holdings Inc. now owns 791,520 shares of the company’s stock worth $1,330,000 after purchasing an additional 579,020 shares in the last quarter. 63.26% of the stock is currently owned by 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.