Innoviz Technologies (NASDAQ:INVZ) Earns “Neutral” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a report released on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $3.25 price target on the stock.

A number of other equities analysts have also recently issued reports on INVZ. Westpark Capital reissued a buy rating and issued a $6.00 target price on shares of Innoviz Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group cut Innoviz Technologies from a buy rating to a neutral rating and lowered their price target for the company from $2.25 to $1.00 in a research report on Thursday, July 11th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $2.00 price objective on shares of Innoviz Technologies in a report on Monday, September 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $3.85.

Innoviz Technologies Trading Up 15.9 %

Shares of NASDAQ INVZ opened at $0.79 on Tuesday. Innoviz Technologies has a one year low of $0.50 and a one year high of $2.99. The business has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $1.03. The firm has a market capitalization of $107.06 million, a price-to-earnings ratio of -1.02 and a beta of 0.99.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $6.66 million for the quarter, compared to the consensus estimate of $4.77 million. Innoviz Technologies had a negative return on equity of 75.99% and a negative net margin of 338.67%. During the same period in the previous year, the business posted ($0.23) earnings per share. On average, research analysts anticipate that Innoviz Technologies will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innoviz Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ground Swell Capital LLC acquired a new stake in Innoviz Technologies during the 2nd quarter valued at $26,000. Kovack Advisors Inc. acquired a new stake in Innoviz Technologies during the 1st quarter valued at $28,000. Victory Capital Management Inc. acquired a new stake in Innoviz Technologies during the 4th quarter valued at $54,000. Jump Financial LLC acquired a new stake in Innoviz Technologies during the 4th quarter valued at $106,000. Finally, Virtu Financial LLC increased its holdings in Innoviz Technologies by 85.2% during the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock valued at $116,000 after purchasing an additional 39,633 shares in the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.

About Innoviz Technologies

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.