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 position in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 57.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Innoviz Technologies by 7.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,305,731 shares of the company's stock worth $4,763,000 after purchasing an additional 500,000 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Innoviz Technologies during the fourth quarter valued at approximately $1,932,000. Nomura Holdings Inc. lifted its stake in Innoviz Technologies by 272.5% during the fourth quarter. Nomura Holdings Inc. now owns 791,520 shares of the company's stock valued at $1,330,000 after purchasing an additional 579,020 shares during the last quarter. New Age Alpha Advisors LLC lifted its stake in Innoviz Technologies by 400.0% during the first 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 during the last quarter. Finally, Banco Santander S.A. acquired a new stake in Innoviz Technologies during the first quarter valued at approximately $239,000. 63.26% of the stock is owned by institutional investors and hedge funds.

Innoviz Technologies Stock Up 17.7%

Shares of INVZ traded up $0.28 during mid-day trading on Monday, hitting $1.86. 21,833,329 shares of the company's stock were exchanged, compared to its average volume of 6,587,115. The firm has a fifty day moving average of $1.65 and a two-hundred day moving average of $1.11. Innoviz Technologies Ltd. has a twelve month low of $0.45 and a twelve month high of $3.14. The stock has a market cap of $374.46 million, a price-to-earnings ratio of -4.43 and a beta of 1.25.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its quarterly 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). Innoviz Technologies had a negative return on equity of 80.09% and a negative net margin of 197.89%.The business had revenue of $9.75 million for the quarter, compared to analyst estimates of $9.00 million. Innoviz Technologies has set its FY 2025 guidance at EPS. On average, equities analysts predict that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INVZ shares. Wall Street Zen raised shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Westpark Capital increased their target price on shares of Innoviz Technologies from $2.53 to $3.30 and gave the company a "buy" rating in a research note on Thursday, August 14th. The Goldman Sachs Group boosted 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. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $4.00 price objective on shares of Innoviz Technologies in a research report on Thursday, May 15th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Innoviz Technologies presently has a consensus rating of "Moderate Buy" and an average target price 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.