Innoviz Technologies (NASDAQ:INVZ) Price Target Cut to $3.00

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) had its target price lowered by Cantor Fitzgerald from $4.00 to $3.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 136.22% from the company's current price.

A number of other research analysts have also recently weighed in on INVZ. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $7.00 price objective (down previously from $13.00) on shares of Innoviz Technologies in a report on Tuesday, March 26th. Rosenblatt Securities decreased their target price on shares of Innoviz Technologies from $5.00 to $3.25 and set a "neutral" rating on the stock in a report on Thursday, February 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of Innoviz Technologies from $3.00 to $2.50 and set a "buy" rating on the stock in a report on Thursday, January 25th.

Innoviz Technologies Trading Down 2.3 %

NASDAQ:INVZ traded down $0.03 during trading hours on Thursday, reaching $1.27. The company had a trading volume of 1,903,912 shares, compared to its average volume of 2,844,611. Innoviz Technologies has a 52 week low of $0.94 and a 52 week high of $4.39. The firm's 50 day moving average price is $1.30 and its 200-day moving average price is $1.71. The firm has a market cap of $172.95 million, a price-to-earnings ratio of -1.49 and a beta of 1.07.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $14.92 million for the quarter, compared to analysts' expectations of $12.25 million. Innoviz Technologies had a negative net margin of 591.37% and a negative return on equity of 78.39%. On average, analysts forecast that Innoviz Technologies will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innoviz Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Koshinski Asset Management Inc. raised its stake in shares of Innoviz Technologies by 232.1% in the first quarter. Koshinski Asset Management Inc. now owns 200,308 shares of the company's stock valued at $270,000 after purchasing an additional 140,000 shares in the last quarter. Kovack Advisors Inc. bought a new stake in Innoviz Technologies in the 1st quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new stake in shares of Innoviz Technologies during the 4th quarter worth approximately $255,000. Tower Research Capital LLC TRC acquired a new position in shares of Innoviz Technologies during the 4th quarter worth approximately $28,000. Finally, Carolinas Wealth Consulting LLC grew its holdings in Innoviz Technologies by 50.0% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 150,000 shares of the company's stock valued at $380,000 after buying an additional 50,000 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors.

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.