5 Cheap Small-Cap Stocks to Buy Before the Next Breakout

3. Innoviz Technologies Ltd. (NASDAQ:INVZ)

Number of Hedge Fund Holders: 17

Share Price as of December 7: $5.37

Innoviz Technologies Ltd. (NASDAQ:INVZ) is an Israeli company that is a manufacturer of solid-state light detection and ranging (LiDAR) sensors and perception software. The sensors and software play an important part in the evolution of the autonomous driving system.

Jared Maymon at Baird thinks that Innoviz Technologies Ltd. (NASDAQ:INVZ) is the top idea in the field of LiDAR and, at the current price, provides a very attractive entry position for potential investors. He added that it is challenging to find companies that offer a high reward profile with optimum risk. However, Innoviz Technologies manages to meet this criterion due to its high operational efficiency. Mr. Maymon added that the market is miscalculating the potential size and breadth of the offerings provided by Innoviz Technologies Ltd. (NASDAQ:INVZ). The analyst gave Innoviz Technologies Ltd. (NASDAQ:INVZ) stock a target price of $12, along with a Buy rating in a research note issued on November 16.

As of Q3 2022, Innoviz Technologies Ltd. (NASDAQ:INVZ) was held by 17 hedge funds.

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