Innoviz Technologies Ltd. (NASDAQ:INVZ) Stock Position Cut by Barclays PLC

Barclays PLC trimmed its stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) by 65.2% during the third quarter, Holdings Channel reports. The institutional investor owned 198,392 shares of the company’s stock after selling 371,500 shares during the period. Barclays PLC’s holdings in Innoviz Technologies were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INVZ. Ground Swell Capital LLC bought a new position in shares of Innoviz Technologies in the second quarter valued at approximately $26,000. Choreo LLC bought a new position in Innoviz Technologies during the 2nd quarter valued at $185,000. SkyView Investment Advisors LLC bought a new position in Innoviz Technologies during the 2nd quarter valued at $371,000. Interval Partners LP increased its position in shares of Innoviz Technologies by 19.6% during the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after purchasing an additional 444,823 shares during the period. Finally, Polar Asset Management Partners Inc. raised its stake in shares of Innoviz Technologies by 29.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after buying an additional 735,300 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INVZ. Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reduced their price objective on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, November 14th. 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 target price on the stock. Finally, Rosenblatt Securities upgraded shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $3.25 to $4.00 in a report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.01.

Innoviz Technologies Trading Up 10.6 %

Shares of INVZ opened at $2.20 on Wednesday. The business’s 50-day moving average price is $0.97 and its 200 day moving average price is $0.84. The stock has a market capitalization of $299.61 million, a P/E ratio of -3.44 and a beta of 0.73. Innoviz Technologies Ltd. has a 1-year low of $0.45 and a 1-year high of $3.14.

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.