Interval Partners LP Sells 1,508,821 Shares of Innoviz Technologies Ltd. $INVZ

Key Points

• Interval Partners LP has reduced its stake in Innoviz Technologies Ltd. by 57.9%, selling over 1.5 million shares, leaving the fund with approximately 1.1 million shares valued at $715,000.
• Other institutional investors, including Migdal Insurance and SBI Securities, have increased their holdings significantly, indicating fluctuating interest in the company.
• Innoviz Technologies reported a loss of $0.09 EPS in its latest earnings, falling short of expectations, but surpassed revenue forecasts with $9.75 million for the quarter.

Interval Partners LP lowered its stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 57.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,097,354 shares of the company's stock after selling 1,508,821 shares during the quarter. Interval Partners LP owned 0.55% of Innoviz Technologies worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Moore Capital Management LP purchased a new position in shares of Innoviz Technologies during the fourth quarter worth about $84,000. Raymond James Financial Inc. purchased a new position in shares of Innoviz Technologies during the fourth quarter worth about $87,000. Arkadios Wealth Advisors purchased a new position in shares of Innoviz Technologies during the first quarter worth about $40,000. Millennium Management LLC grew its holdings in shares of Innoviz Technologies by 511.6% during the fourth quarter. Millennium Management LLC now owns 67,997 shares of the company's stock worth $114,000 after purchasing an additional 56,879 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings in shares of Innoviz Technologies by 49.5% during the first quarter. Koshinski Asset Management Inc. now owns 150,000 shares of the company's stock worth $98,000 after purchasing an additional 49,692 shares during the last quarter. Hedge funds and other institutional investors own 63.26% of the company's stock.

Innoviz Technologies Stock Up 7.2%

Shares of INVZ traded up $0.13 during mid-day trading on Thursday, hitting $1.86. The stock had a trading volume of 4,393,599 shares, compared to its average volume of 7,864,201. The company has a market cap of $373.45 million, a PE ratio of -4.44 and a beta of 1.25. The company's fifty day simple moving average is $1.66 and its two-hundred day simple moving average is $1.12. Innoviz Technologies Ltd. has a fifty-two week low of $0.45 and a fifty-two week high of $3.14.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $9.75 million for the quarter, compared to the consensus estimate of $9.00 million. Innoviz Technologies had a negative net margin of 197.89% and a negative return on equity of 80.09%. Innoviz Technologies has set its FY 2025 guidance at EPS. Equities analysts expect that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on INVZ. Westpark Capital boosted their target price on Innoviz Technologies from $2.53 to $3.30 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Wall Street Zen raised shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $4.00 target price on shares of Innoviz Technologies in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $2.58.

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.