Innoviz Technologies (NASDAQ:INVZ) Coverage Initiated at Westpark Capital

Equities research analysts at Westpark Capital began coverage on shares of Innoviz Technologies (NASDAQ:INVZ) in a report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $1.30 price target on the stock. Westpark Capital’s target price suggests a potential upside of 83.18% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Cantor Fitzgerald lowered Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Rosenblatt Securities reiterated a “neutral” rating and set a $3.25 price target on shares of Innoviz Technologies in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group cut their price target on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Three investment 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 presently has a consensus rating of “Hold” and a consensus price target of $2.86.

Innoviz Technologies Price Performance

Shares of INVZ stock opened at $0.71 on Wednesday. The business has a 50-day moving average of $0.70 and a 200 day moving average of $0.81. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $2.99. The stock has a market capitalization of $96.65 million, a PE ratio of -1.11 and a beta of 1.06.

Hedge Funds Weigh In On Innoviz Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ground Swell Capital LLC bought a new stake in Innoviz Technologies in the second quarter valued at $26,000. Virtu Financial LLC lifted its position in shares of Innoviz Technologies by 85.2% in the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after purchasing an additional 39,633 shares during the period. Choreo LLC purchased a new stake in shares of Innoviz Technologies in the 2nd quarter worth about $185,000. Tidal Investments LLC bought a new stake in shares of Innoviz Technologies during the 1st quarter valued at about $258,000. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Innoviz Technologies during the second quarter valued at about $371,000. 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.