Innoviz Technologies (NASDAQ:INVZ) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Innoviz Technologies (NASDAQ:INVZ - Free Report) from a sell rating to a hold rating in a research note issued to investors on Thursday.

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

Innoviz Technologies Stock Performance

Shares of NASDAQ INVZ traded up $0.07 during midday trading on Thursday, hitting $0.93. 2,467,569 shares of the company's stock traded hands, compared to its average volume of 7,616,902. The firm has a fifty day moving average of $0.72 and a 200 day moving average of $0.98. Innoviz Technologies has a 1 year low of $0.45 and a 1 year high of $3.14. The stock has a market capitalization of $185.43 million, a price-to-earnings ratio of -1.45 and a beta of 0.84.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11). The business had revenue of $6.03 million during the quarter, compared to analysts' expectations of $5.86 million. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. On average, equities analysts anticipate that Innoviz Technologies will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Innoviz Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HITE Hedge Asset Management LLC bought a new position in shares of Innoviz Technologies in the fourth quarter worth about $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Innoviz Technologies in the 4th quarter worth approximately $1,932,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Innoviz Technologies by 13.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company's stock worth $11,434,000 after purchasing an additional 810,731 shares during the period. Nomura Holdings Inc. grew its holdings in Innoviz Technologies by 272.5% during the 4th quarter. Nomura Holdings Inc. now owns 791,520 shares of the company's stock valued at $1,330,000 after buying an additional 579,020 shares in the last quarter. Finally, New Age Alpha Advisors LLC grew its holdings in Innoviz Technologies by 400.0% during the 1st quarter. New Age Alpha Advisors LLC now owns 500,000 shares of the company's stock valued at $326,000 after buying an additional 400,000 shares in the last quarter. 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.