Innoviz Technologies’ (INVZ) “Buy” Rating Reiterated at Westpark Capital

Westpark Capital reissued their buy rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a $2.22 price objective on the stock.

Several other equities analysts have also commented on the company. Cantor Fitzgerald lowered Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. The Goldman Sachs Group dropped their price target on shares of Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Rosenblatt Securities upgraded shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $3.25 to $4.00 in a report on Friday, December 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.19.

Innoviz Technologies Price Performance

INVZ opened at $0.73 on Tuesday. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $3.14. The firm has a market capitalization of $100.00 million, a price-to-earnings ratio of -1.15 and a beta of 0.72. The company’s 50 day simple moving average is $1.47 and its two-hundred day simple moving average is $0.98.

Innoviz Technologies (NASDAQ:INVZ) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $6.03 million during the quarter, compared to the consensus estimate of $5.86 million. Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. On average, equities analysts anticipate that Innoviz Technologies will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innoviz Technologies

Several institutional investors have recently modified their holdings of INVZ. Polar Asset Management Partners Inc. raised its holdings in Innoviz Technologies by 29.6% during the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after purchasing an additional 735,300 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Innoviz Technologies during the 4th quarter valued at about $25,000. Koshinski Asset Management Inc. acquired a new position in Innoviz Technologies during the fourth quarter worth about $169,000. Traynor Capital Management Inc. acquired a new position in Innoviz Technologies during the fourth quarter worth about $25,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Innoviz Technologies by 13.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock valued at $11,434,000 after purchasing an additional 810,731 shares in the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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.