Westpark Capital Reaffirms Buy Rating for Innoviz Technologies (NASDAQ:INVZ)

Innoviz Technologies (NASDAQ:INVZ - Get Free Report)'s stock had its "buy" rating restated by research analysts at Westpark Capital in a report released on Tuesday,Benzinga reports. They currently have a $2.22 target price on the stock. Westpark Capital's target price indicates a potential upside of 125.24% from the stock's current price.

Separately, Rosenblatt Securities reissued a "buy" rating and issued a $4.00 price target on shares of Innoviz Technologies in a research report on Thursday, February 27th.

Innoviz Technologies Stock Up 0.1%

Shares of INVZ stock traded up $0.00 on Tuesday, hitting $0.99. The stock had a trading volume of 3,033,825 shares, compared to its average volume of 4,550,695. Innoviz Technologies has a one year low of $0.45 and a one year high of $3.14. The business has a 50 day moving average price of $0.69 and a 200 day moving average price of $0.97. The company has a market cap of $196.10 million, a PE ratio of -1.54 and a beta of 0.84.

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 (EPS) for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $6.03 million for the quarter, compared to analyst estimates of $5.86 million. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. Equities research analysts expect that Innoviz Technologies will post -0.6 EPS for the current year.

Institutional Investors Weigh In On Innoviz Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in Innoviz Technologies by 38.2% in the first quarter. Goldman Sachs Group Inc. now owns 523,945 shares of the company's stock worth $342,000 after purchasing an additional 144,822 shares during the last quarter. Polar Asset Management Partners Inc. grew its stake in Innoviz Technologies by 10.6% during the 1st quarter. Polar Asset Management Partners Inc. now owns 2,936,369 shares of the company's stock worth $1,914,000 after buying an additional 280,769 shares during the last quarter. NewEdge Advisors LLC increased its position in Innoviz Technologies by 499.6% during the 1st quarter. NewEdge Advisors LLC now owns 70,021 shares of the company's stock valued at $46,000 after buying an additional 58,343 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Innoviz Technologies by 10.1% in the first quarter. Cresset Asset Management LLC now owns 218,007 shares of the company's stock worth $142,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in Innoviz Technologies in the first quarter worth about $130,000. Hedge funds and other institutional investors own 63.26% of the company's stock.

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.