Citizens Financial Group Inc. RI Acquires New Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Key Points

• Citizens Financial Group Inc. RI has acquired 200,000 shares of Innoviz Technologies Ltd. for approximately $130,000, representing 0.10% of the company's stock as of the latest reporting period.
• Institutional investors collectively own 63.26% of Innoviz Technologies, with notable contributions from several firms, including Migdal Insurance & Financial Holdings and Nomura Holdings.
• Wall Street analysts have varying ratings on Innoviz Technologies, with a consensus rating of "Hold" and a price target averaging $2.38, following recent adjustments from firms including Rosenblatt Securities and Goldman Sachs Group.

Citizens Financial Group Inc. RI bought a new stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 200,000 shares of the company's stock, valued at approximately $130,000. Citizens Financial Group Inc. RI owned approximately 0.10% of Innoviz Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New Age Alpha Advisors LLC boosted its position in shares of Innoviz Technologies by 400.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 500,000 shares of the company's stock valued at $326,000 after purchasing an additional 400,000 shares in the last quarter. Banco Santander S.A. bought a new stake in shares of Innoviz Technologies during the 1st quarter valued at about $239,000. Arkadios Wealth Advisors acquired a new position in Innoviz Technologies during the 1st quarter worth approximately $40,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Innoviz Technologies by 7.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company's stock worth $4,763,000 after buying an additional 500,000 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in Innoviz Technologies by 237.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 312,572 shares of the company's stock worth $204,000 after buying an additional 219,824 shares during the period. Institutional investors own 63.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Westpark Capital increased their price objective on Innoviz Technologies from $2.22 to $2.53 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen raised Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $4.00 price objective on shares of Innoviz Technologies in a research note on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.38.

Innoviz Technologies Stock Up 1.8%

Innoviz Technologies stock traded up $0.03 during mid-day trading on Monday, reaching $1.70. 6,708,405 shares of the company's stock were exchanged, compared to its average volume of 8,234,307. The firm has a market capitalization of $338.23 million, a PE ratio of -3.70 and a beta of 1.25. The business's fifty day simple moving average is $1.44 and its 200 day simple moving average is $1.05. Innoviz Technologies Ltd. has a one year low of $0.45 and a one year high of $3.14.

Innoviz Technologies 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.