Wall Street Zen Upgrades Innoviz Technologies (NASDAQ:INVZ) to Hold

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Thursday.

Several other equities research analysts have also issued reports on the stock. Westpark Capital reaffirmed a "buy" rating and set a $2.22 price target on shares of Innoviz Technologies in a report on Tuesday, May 13th. The Goldman Sachs Group lifted their price target on Innoviz Technologies from $0.75 to $1.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $4.00 price objective on shares of Innoviz Technologies in a report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $2.31.

Innoviz Technologies Stock Performance

NASDAQ INVZ traded down $0.00 during trading hours on Thursday, hitting $0.90. 983,210 shares of the company traded hands, compared to its average volume of 4,554,662. The stock has a market capitalization of $178.67 million, a price-to-earnings ratio of -1.40 and a beta of 0.84. Innoviz Technologies has a twelve month low of $0.45 and a twelve month high of $3.14. The business's 50-day moving average is $0.71 and its 200-day moving average is $0.97.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.03 million during the quarter, compared to analysts' expectations of $5.86 million. Analysts predict that Innoviz Technologies will post -0.6 EPS for the current year.

Institutional Investors Weigh In On Innoviz Technologies

Institutional investors have recently modified their holdings of the company. Traynor Capital Management Inc. acquired a new position in Innoviz Technologies in the fourth quarter valued at $25,000. Schonfeld Strategic Advisors LLC raised its position in shares of Innoviz Technologies by 12.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company's stock worth $266,000 after acquiring an additional 16,900 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at about $29,000. Cresset Asset Management LLC boosted its position in shares of Innoviz Technologies by 10.1% during the 1st quarter. Cresset Asset Management LLC now owns 218,007 shares of the company's stock valued at $142,000 after purchasing an additional 20,000 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in Innoviz Technologies during the fourth quarter worth approximately $37,000. 63.26% of the stock is 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.

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