Polar Asset Management Partners Inc. Grows Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Polar Asset Management Partners Inc. lifted its holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 29.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,219,400 shares of the company’s stock after purchasing an additional 735,300 shares during the period. Polar Asset Management Partners Inc.’s holdings in Innoviz Technologies were worth $2,665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new stake in Innoviz Technologies in the 2nd quarter valued at about $26,000. Choreo LLC purchased a new stake in shares of Innoviz Technologies in the second quarter valued at approximately $185,000. Tidal Investments LLC purchased a new stake in shares of Innoviz Technologies in the first quarter valued at approximately $258,000. SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies in the second quarter valued at approximately $371,000. Finally, Interval Partners LP lifted its position in Innoviz Technologies by 19.6% during the second quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock worth $2,519,000 after buying an additional 444,823 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INVZ has been the subject of several analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $3.25 target price on shares of Innoviz Technologies in a report on Tuesday, September 10th. Westpark Capital initiated coverage on shares of Innoviz Technologies in a report on Wednesday, November 27th. They issued a “buy” rating and a $1.30 price objective for the company. The Goldman Sachs Group reduced their target price on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.86.

Innoviz Technologies Trading Down 4.1 %

Shares of INVZ opened at $0.63 on Friday. The company’s 50-day moving average price is $0.69 and its 200 day moving average price is $0.79. Innoviz Technologies Ltd. has a 12-month low of $0.45 and a 12-month high of $2.99. The firm has a market cap of $86.16 million, a P/E ratio of -0.99 and a beta of 1.18.

Innoviz Technologies Company Profile

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.