Equities researchers at JPMorgan Chase & Co. started coverage on shares of Innoviz Technologies (NASDAQ:INVZ – Get Rating) in a report issued on Tuesday, The Fly reports. The firm set an “overweight” rating on the stock.
Separately, The Goldman Sachs Group raised their price target on Innoviz Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 11th.
Innoviz Technologies Trading Down 4.7 %
Shares of Innoviz Technologies stock traded down $0.25 on Tuesday, reaching $5.03. The company had a trading volume of 10,647 shares, compared to its average volume of 1,578,579. Innoviz Technologies has a 1 year low of $2.89 and a 1 year high of $8.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.29 and a quick ratio of 8.13. The firm has a market cap of $678.50 million, a price-to-earnings ratio of -6.36 and a beta of 0.07. The firm’s 50-day moving average price is $4.91 and its two-hundred day moving average price is $4.21.
Hedge Funds Weigh In On Innoviz Technologies
Institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC increased its holdings in Innoviz Technologies by 30.5% during the second quarter. Wolverine Asset Management LLC now owns 22,831 shares of the company’s stock worth $89,000 after buying an additional 5,341 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Innoviz Technologies during the 4th quarter worth $63,000. Harbor Advisors LLC grew its holdings in Innoviz Technologies by 100.0% during the 2nd quarter. Harbor Advisors LLC now owns 20,000 shares of the company’s stock valued at $78,000 after buying an additional 10,000 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its position in Innoviz Technologies by 33.3% in the first quarter. Carolinas Wealth Consulting LLC now owns 40,000 shares of the company’s stock valued at $145,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of Innoviz Technologies during the first quarter valued at approximately $38,000. 50.23% of the stock is owned by institutional investors.
About Innoviz Technologies
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.
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