Polar Asset Management Partners Inc. raised its stake in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 10.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,936,369 shares of the company's stock after buying an additional 280,769 shares during the period. Polar Asset Management Partners Inc. owned about 1.48% of Innoviz Technologies worth $1,914,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings 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 buying an additional 500,000 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of Innoviz Technologies in the 1st quarter valued at $239,000. SBI Securities Co. Ltd. boosted its stake in shares of Innoviz Technologies by 237.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 312,572 shares of the company's stock valued at $204,000 after purchasing an additional 219,824 shares in the last quarter. Nomura Holdings Inc. boosted its stake in shares of Innoviz Technologies by 272.5% in the 4th 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 in the last quarter. Finally, New Age Alpha Advisors LLC boosted its stake in shares of Innoviz Technologies by 400.0% in the 1st 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 in the last quarter. Institutional investors own 63.26% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on INVZ. Westpark Capital upped their price objective 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. Rosenblatt Securities reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Innoviz Technologies in a research note on Thursday, May 15th. The Goldman Sachs Group upped their price objective on shares of Innoviz Technologies from $0.75 to $1.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2.58.
View Our Latest Stock Report on Innoviz Technologies
Innoviz Technologies Price Performance
INVZ traded down $0.14 during trading on Wednesday, hitting $1.73. 6,476,233 shares of the stock traded hands, compared to its average volume of 7,886,317. The firm has a market capitalization of $348.28 million, a P/E ratio of -4.12 and a beta of 1.25. The firm has a 50-day moving average of $1.66 and a 200 day moving average of $1.12. Innoviz Technologies Ltd. has a 12-month low of $0.45 and a 12-month high of $3.14.
Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $9.75 million for the quarter, compared to analysts' expectations 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. As a group, equities analysts predict that Innoviz Technologies Ltd. will post -0.6 EPS for the current fiscal year.
About Innoviz Technologies
(
Free Report)
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.
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