1,150,000 Shares in Innoviz Technologies Ltd. (NASDAQ:INVZ) Purchased by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,150,000 shares of the company's stock, valued at approximately $1,932,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.84% of Innoviz Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in Innoviz Technologies by 13.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company's stock valued at $11,434,000 after purchasing an additional 810,731 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Innoviz Technologies in the fourth quarter worth about $1,972,000. Raymond James Financial Inc. acquired a new position in shares of Innoviz Technologies in the fourth quarter worth about $87,000. OneDigital Investment Advisors LLC acquired a new position in shares of Innoviz Technologies in the fourth quarter worth about $37,000. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Innoviz Technologies in the fourth quarter worth about $169,000. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Innoviz Technologies Stock Performance

Shares of INVZ traded up $0.00 during mid-day trading on Friday, hitting $0.99. 3,033,825 shares of the company were exchanged, compared to its average volume of 4,550,695. Innoviz Technologies Ltd. has a 1-year low of $0.45 and a 1-year high of $3.14. The company has a 50 day moving average of $0.69 and a 200-day moving average of $0.97. The stock has a market cap of $196.10 million, a price-to-earnings ratio of -1.54 and a beta of 0.84.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $5.86 million. Research analysts anticipate that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Westpark Capital reiterated a "buy" rating and issued a $2.22 price objective on shares of Innoviz Technologies in a research report on Tuesday, May 13th. Rosenblatt Securities reiterated a "buy" rating and issued a $4.00 price objective on shares of Innoviz Technologies in a research report on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Innoviz Technologies from $0.75 to $1.00 and gave the stock a "neutral" rating in a research report on Friday.

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.