Innoviz Technologies Ltd (INVZ) is trading 9% higher at $6.015 today. The stock is rocketing past peers on a somewhat glum day for the Information Technology sector.
Some recent news:
- JPMorgan starts Innoviz Technologies at overweight
- Innoviz selected by automotive OEM to serve as direct LiDAR supplier for series production passenger vehicles
- Light Detection and Ranging (LiDAR) market is expected to grow with a CAGR of 25.30% by 2029
Innoviz Technologies Ltd has been trading between a 52-week high of $8.03 and a 52-week low of $2.89. The stock has a market cap of $811 Million.
Innoviz is a leading manufacturer of high-performance, solid-state LiDAR sensors and perception software that enable the mass production of autonomous vehicles. Innoviz's offerings include InnovizOne, an automotive-grade, mass-production LiDAR sensor, InnovizTwo, next generation high-performance automotive-grade LiDAR sensor, and Innoviz's perception software, designed to complement its hardware offerings with advanced AI and machine learning-based classification, detection and tracking features. Innoviz is backed by top-tier strategic partners and investors, including SoftBank Ventures Asia, Samsung, Magna International, Aptiv, Magma Venture Partners, Vertex Ventures, 360 Capital Partners, Harel Insurance Investments and Financial Services, Phoenix Insurance Company and others.