Polar Asset Management Partners Inc. Decreases Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Polar Asset Management Partners Inc. reduced its stake in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,655,600 shares of the company's stock after selling 563,800 shares during the period. Polar Asset Management Partners Inc. owned approximately 1.95% of Innoviz Technologies worth $4,461,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INVZ. Schonfeld Strategic Advisors LLC raised its holdings in Innoviz Technologies by 12.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company's stock worth $266,000 after buying an additional 16,900 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of Innoviz Technologies during the fourth quarter valued at approximately $29,000. OneDigital Investment Advisors LLC purchased a new position in Innoviz Technologies in the 4th quarter worth approximately $37,000. Sprott Inc. bought a new position in Innoviz Technologies in the 4th quarter valued at approximately $54,000. Finally, XTX Topco Ltd bought a new position in Innoviz Technologies in the 4th quarter valued at approximately $80,000. 63.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Innoviz Technologies from $0.75 to $1.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen raised shares of Innoviz Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Westpark Capital reissued a "buy" rating and set a $2.22 price objective on shares of Innoviz Technologies in a report on Tuesday, May 13th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $4.00 target price on shares of Innoviz Technologies in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.31.

Innoviz Technologies Stock Down 2.7%

NASDAQ:INVZ traded down $0.03 during mid-day trading on Friday, hitting $0.91. 2,526,819 shares of the company traded hands, compared to its average volume of 4,639,781. The stock's fifty day moving average price is $0.74 and its 200-day moving average price is $0.99. The firm has a market cap of $181.29 million, a price-to-earnings ratio of -1.42 and a beta of 0.84. Innoviz Technologies Ltd. has a one year low of $0.45 and a one year high of $3.14.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The firm had revenue of $6.03 million during the quarter, compared to analysts' expectations of $5.86 million. Equities analysts predict 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.