Innoviz Technologies Target of Unusually Large Options Trading (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZGet Free Report) saw some unusual options trading on Tuesday. Investors bought 90,528 call options on the stock. This represents an increase of approximately 591% compared to the typical daily volume of 13,103 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. bought a new position in Innoviz Technologies in the fourth quarter valued at $54,000. Daiwa Securities Group Inc. boosted its holdings in shares of Innoviz Technologies by 57.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 45,713 shares of the company’s stock worth $116,000 after purchasing an additional 16,629 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Innoviz Technologies by 38.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,795,000 shares of the company’s stock valued at $14,661,000 after purchasing an additional 1,600,000 shares during the last quarter. Crown Wealth Group LLC purchased a new position in shares of Innoviz Technologies during the 4th quarter valued at about $28,000. Finally, Vanguard Group Inc. lifted its position in Innoviz Technologies by 42.3% in the 3rd quarter. Vanguard Group Inc. now owns 110,704 shares of the company’s stock worth $216,000 after buying an additional 32,881 shares during the last quarter. Hedge funds and other institutional investors own 54.00% of the company’s stock.

Innoviz Technologies Stock Up 3.9 %

INVZ traded up $0.06 during midday trading on Tuesday, reaching $1.60. The company had a trading volume of 2,053,414 shares, compared to its average volume of 4,272,229. Innoviz Technologies has a 12-month low of $1.30 and a 12-month high of $5.45. The business has a 50-day moving average price of $2.12 and a two-hundred day moving average price of $2.16.

Innoviz Technologies (NASDAQ:INVZGet Free Report) last posted its earnings results on Wednesday, November 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The business had revenue of $3.48 million during the quarter, compared to analysts’ expectations of $3.08 million. Innoviz Technologies had a negative return on equity of 76.16% and a negative net margin of 1,689.54%. As a group, equities analysts expect that Innoviz Technologies will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group decreased their price target on shares of Innoviz Technologies from $3.00 to $2.50 and set a “buy” rating for the company in a research note on Thursday, January 25th.

Get Our Latest Research Report on Innoviz Technologies

About Innoviz Technologies

(Get Free Report)

Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.

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