Innoviz Technologies (NASDAQ:INVZ) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a report released on Monday, Benzinga reports. The firm currently has a $3.00 target price on the stock.

A number of other research firms have also commented on INVZ. The Goldman Sachs Group lowered Innoviz Technologies from a buy rating to a neutral rating and decreased their price objective for the company from $2.25 to $1.00 in a research note on Thursday, July 11th. JPMorgan Chase & Co. reissued an overweight rating and issued a $7.00 price target (down from $13.00) on shares of Innoviz Technologies in a research note on Tuesday, March 26th.

Innoviz Technologies Stock Down 5.1 %

Shares of INVZ stock opened at $0.78 on Monday. The stock has a market cap of $105.96 million, a P/E ratio of -1.01 and a beta of 1.01. Innoviz Technologies has a fifty-two week low of $0.71 and a fifty-two week high of $4.39. The business has a fifty day simple moving average of $0.98 and a 200-day simple moving average of $1.30.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). The company had revenue of $7.06 million for the quarter, compared to analyst estimates of $5.99 million. Innoviz Technologies had a negative net margin of 441.23% and a negative return on equity of 79.64%. On average, sell-side analysts anticipate that Innoviz Technologies will post -0.75 earnings per share for the current year.

Institutional Trading of Innoviz Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Crown Wealth Group LLC acquired a new stake in Innoviz Technologies in the 4th quarter worth about $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at about $28,000. Daiwa Securities Group Inc. lifted its stake in shares of Innoviz Technologies by 57.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 45,713 shares of the company’s stock valued at $116,000 after purchasing an additional 16,629 shares in the last quarter. Kovack Advisors Inc. acquired a new position in shares of Innoviz Technologies in the 1st quarter valued at about $28,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at about $54,000. 63.26% of the stock is owned by institutional investors and hedge funds.

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.