Innoviz Technologies Ltd. (NASDAQ:INVZ) Short Interest Update

Innoviz Technologies Ltd. (NASDAQ:INVZ) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 24,390,000 shares, a growth of 62.5% from the February 13th total of 15,010,000 shares. Approximately 12.3% of the company’s stock are short sold. Based on an average trading volume of 12,070,000 shares, the days-to-cover ratio is currently 2.0 days.

Hedge Funds Weigh In On Innoviz Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Nomura Holdings Inc. boosted 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 buying an additional 579,020 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Innoviz Technologies in the fourth quarter valued at approximately $1,932,000. Millennium Management LLC grew its position in shares of Innoviz Technologies by 511.6% in the fourth quarter. Millennium Management LLC now owns 67,997 shares of the company’s stock valued at $114,000 after purchasing an additional 56,879 shares in the last quarter. Moore Capital Management LP purchased a new stake in shares of Innoviz Technologies in the fourth quarter valued at approximately $84,000. Finally, Schonfeld Strategic Advisors LLC grew its position in Innoviz Technologies by 12.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company’s stock worth $266,000 after acquiring an additional 16,900 shares during the period. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on INVZ shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $4.00 target price on shares of Innoviz Technologies in a research report on Thursday, February 27th. Westpark Capital reissued a “buy” rating and issued a $2.22 price objective on shares of Innoviz Technologies in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.19.

Innoviz Technologies Trading Up 3.4 %

Shares of NASDAQ INVZ traded up $0.02 during trading on Friday, reaching $0.65. 4,377,181 shares of the company traded hands, compared to its average volume of 4,392,039. The firm’s fifty day simple moving average is $1.25 and its 200 day simple moving average is $0.98. The stock has a market cap of $110.11 million, a P/E ratio of -1.02 and a beta of 0.84. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $6.03 million during the quarter, compared to analyst estimates of $5.86 million. Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. As a group, research analysts expect that Innoviz Technologies will post -0.6 EPS for the current year.

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.