Innoviz Technologies Sees Unusually High Options Volume (NASDAQ:INVZ)

Innoviz Technologies Ltd. (NASDAQ:INVZGet Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 90,528 call options on the company. This represents an increase of approximately 591% compared to the average daily volume of 13,103 call options.

Innoviz Technologies Stock Up 3.9 %

Shares of Innoviz Technologies stock opened at $1.60 on Wednesday. The firm has a market cap of $263.82 million, a price-to-earnings ratio of -1.74 and a beta of 1.11. The business has a 50-day moving average price of $2.12 and a 200-day moving average price of $2.14. Innoviz Technologies has a twelve month low of $1.30 and a twelve month high of $5.45.

Innoviz Technologies (NASDAQ:INVZGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The company 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%. On average, equities analysts expect that Innoviz Technologies will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on INVZ

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INVZ. Cowen AND Company LLC boosted its position in shares of Innoviz Technologies by 26.6% during the third quarter. Cowen AND Company LLC now owns 6,348,824 shares of the company’s stock valued at $12,380,000 after buying an additional 1,332,991 shares during the period. Phoenix Holdings Ltd. boosted its position in shares of Innoviz Technologies by 202.8% during the third quarter. Phoenix Holdings Ltd. now owns 6,255,134 shares of the company’s stock valued at $12,114,000 after buying an additional 4,189,335 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Innoviz Technologies by 38.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,795,000 shares of the company’s stock valued at $14,661,000 after buying an additional 1,600,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Innoviz Technologies by 124.7% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,046,139 shares of the company’s stock valued at $9,840,000 after buying an additional 2,799,962 shares during the period. Finally, Barclays PLC boosted its position in shares of Innoviz Technologies by 85.6% during the third quarter. Barclays PLC now owns 3,040,724 shares of the company’s stock valued at $5,929,000 after buying an additional 1,402,100 shares during the period. Hedge funds and other institutional investors own 54.00% of the company’s stock.

Innoviz Technologies Company Profile

(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.

Further Reading

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