Nomura Holdings Inc. Buys 579,020 Shares of Innoviz Technologies Ltd. (NASDAQ:INVZ)

Nomura Holdings Inc. lifted its position in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 272.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 791,520 shares of the company's stock after acquiring an additional 579,020 shares during the period. Nomura Holdings Inc. owned 0.58% of Innoviz Technologies worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in INVZ. HITE Hedge Asset Management LLC purchased a new stake in Innoviz Technologies in the fourth quarter worth $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Innoviz Technologies during the 4th quarter valued at $1,932,000. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Innoviz Technologies by 13.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company's stock worth $11,434,000 after buying an additional 810,731 shares during the period. Summit X LLC grew its position in shares of Innoviz Technologies by 218.3% in the 4th quarter. Summit X LLC now owns 275,417 shares of the company's stock worth $463,000 after buying an additional 188,876 shares during the period. Finally, Koshinski Asset Management Inc. bought a new position in shares of Innoviz Technologies in the 4th quarter worth about $169,000. Hedge funds and other institutional investors own 63.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on INVZ. Wall Street Zen raised Innoviz Technologies from a "sell" rating to a "hold" rating in a research report on Thursday. The Goldman Sachs Group boosted their target price on Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Westpark Capital restated a "buy" rating and set a $2.22 price target on shares of Innoviz Technologies in a report on Tuesday, May 13th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $4.00 price target on shares of Innoviz Technologies in a research report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $2.31.

Innoviz Technologies Trading Down 4.9%

INVZ traded down $0.04 during trading on Friday, hitting $0.85. 1,185,614 shares of the company's stock traded hands, compared to its average volume of 4,562,311. The company's 50 day simple moving average is $0.72 and its two-hundred day simple moving average is $0.97. Innoviz Technologies Ltd. has a 12-month low of $0.45 and a 12-month high of $3.14. The stock has a market capitalization of $169.91 million, a price-to-earnings ratio of -1.34 and a beta of 0.84.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. The company had revenue of $6.03 million for the quarter, compared to analysts' expectations of $5.86 million. On average, equities analysts expect that Innoviz Technologies Ltd. will post -0.6 EPS 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.