Innoviz Technologies Ltd. $INVZ Stock Holdings Lifted by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. increased its stake in Innoviz Technologies by 10.6%, acquiring an additional 280,769 shares, and now owns 1.48% of the company valued at $1,914,000.
• During the first quarter, other large investors also increased their holdings in Innoviz, contributing to a total of 63.26% institutional ownership of the stock.
• Innoviz Technologies missed earnings expectations with a reported EPS of ($0.09) against the consensus estimate of ($0.08), despite generating revenue of $9.75 million, higher than forecasted.

Polar Asset Management Partners Inc. boosted its stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,936,369 shares of the company's stock after purchasing an additional 280,769 shares during the period. Polar Asset Management Partners Inc. owned approximately 1.48% of Innoviz Technologies worth $1,914,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Moore Capital Management LP acquired a new stake in shares of Innoviz Technologies in the fourth quarter worth $84,000. Raymond James Financial Inc. acquired a new stake in shares of Innoviz Technologies in the fourth quarter worth $87,000. Arkadios Wealth Advisors acquired a new stake in shares of Innoviz Technologies in the first quarter worth $40,000. Millennium Management LLC increased its position in shares of Innoviz Technologies by 511.6% in the fourth quarter. Millennium Management LLC now owns 67,997 shares of the company's stock worth $114,000 after acquiring an additional 56,879 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Innoviz Technologies by 499.6% in the first quarter. NewEdge Advisors LLC now owns 70,021 shares of the company's stock worth $46,000 after acquiring an additional 58,343 shares in the last quarter. Institutional investors and hedge funds own 63.26% of the company's stock.

Innoviz Technologies Trading Up 6.1%

NASDAQ INVZ traded up $0.11 during trading hours on Thursday, reaching $1.84. 4,762,510 shares of the company traded hands, compared to its average volume of 7,868,100. 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 $369.42 million, a PE ratio of -4.37 and a beta of 1.25. The company has a 50 day moving average of $1.66 and a two-hundred day moving average of $1.12.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $4.00 price objective on shares of Innoviz Technologies in a research report on Thursday, May 15th. The Goldman Sachs Group raised 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. Westpark Capital raised their price target on shares of Innoviz Technologies from $2.53 to $3.30 and gave the company a "buy" rating in a report on Thursday, August 14th. Finally, Wall Street Zen raised shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock 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.