New Age Alpha Advisors LLC Increases Stock Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Key Points

• New Age Alpha Advisors LLC has increased its stake in Innoviz Technologies by 400%, acquiring an additional 400,000 shares, bringing its total holdings to 500,000 shares valued at approximately $326,000.
• Multiple hedge funds have also adjusted their investments, with Migdal Insurance boosting its holding by 7.3% and SBI Securities increasing by 237%, indicating growing institutional interest in the company.
• Analysts have mixed opinions on Innoviz Technologies, with a consensus rating of "Hold" and an average target price of $2.38 per share, while some analysts maintain a "buy" rating with higher price objectives.

New Age Alpha Advisors LLC grew its position in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 400.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 500,000 shares of the company's stock after purchasing an additional 400,000 shares during the quarter. New Age Alpha Advisors LLC owned approximately 0.25% of Innoviz Technologies worth $326,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC boosted its stake in Innoviz Technologies by 12.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company's stock worth $266,000 after acquiring an additional 16,900 shares in the last quarter. Lido Advisors LLC bought a new position in Innoviz Technologies during the fourth quarter worth $29,000. OneDigital Investment Advisors LLC bought a new position in Innoviz Technologies during the fourth quarter worth $37,000. XTX Topco Ltd bought a new position in Innoviz Technologies during the fourth quarter worth $80,000. Finally, Koshinski Asset Management Inc. boosted its stake in 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 acquiring an additional 49,692 shares in the last quarter. 63.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. 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 reissued a "buy" rating and set a $4.00 target price on shares of Innoviz Technologies in a research note on Thursday, May 15th. Westpark Capital upped their price objective on shares of Innoviz Technologies from $2.53 to $3.30 and gave the stock a "buy" rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Innoviz Technologies presently has an average rating of "Hold" and an average price target of $2.58.

Innoviz Technologies Stock Down 5.4%

INVZ traded down $0.09 during trading on Thursday, hitting $1.50. 5,804,950 shares of the company's stock were exchanged, compared to its average volume of 7,969,070. The business's 50 day moving average is $1.47 and its two-hundred day moving average is $1.06. Innoviz Technologies Ltd. has a fifty-two week low of $0.45 and a fifty-two week high of $3.14. The stock has a market cap of $297.45 million, a P/E ratio of -3.25 and a beta of 1.25.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $9.75 million for the quarter, compared to analyst estimates of $9.00 million. Innoviz Technologies had a negative return on equity of 78.82% and a negative net margin of 223.29%. On average, sell-side analysts forecast that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current year.

Innoviz Technologies Company 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.