Innoviz Technologies (NASDAQ:INVZ) PT Lowered to $2.00

Innoviz Technologies (NASDAQ:INVZ) had its price target decreased by equities research analysts at Cantor Fitzgerald from $3.00 to $2.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 180.31% from the company’s previous close.

Several other analysts have also weighed in on the company. The Goldman Sachs Group lowered Innoviz Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $2.25 to $1.00 in a report on Thursday, July 11th. Westpark Capital reissued a “buy” rating and issued a $6.00 target price on shares of Innoviz Technologies in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Innoviz Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $3.85.

Innoviz Technologies Trading Down 2.8 %

Shares of Innoviz Technologies stock traded down $0.02 during trading hours on Thursday, hitting $0.71. 572,472 shares of the company were exchanged, compared to its average volume of 2,401,888. Innoviz Technologies has a 1 year low of $0.60 and a 1 year high of $2.99. The business has a 50-day moving average of $0.89 and a 200-day moving average of $1.21. The stock has a market capitalization of $97.17 million, a price-to-earnings ratio of -0.93 and a beta of 1.01.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Innoviz Technologies had a negative return on equity of 79.64% and a negative net margin of 441.23%. The company had revenue of $6.66 million for the quarter, compared to analysts’ expectations of $4.77 million. During the same quarter last year, the company earned ($0.23) EPS. As a group, research analysts anticipate that Innoviz Technologies will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

Several large investors have recently added to or reduced their stakes in INVZ. Ground Swell Capital LLC purchased a new position in shares of Innoviz Technologies in the 2nd quarter worth about $26,000. Kovack Advisors Inc. purchased a new position in shares of Innoviz Technologies in the 1st quarter worth about $28,000. Tower Research Capital LLC TRC purchased a new position in shares of Innoviz Technologies in the 4th quarter worth about $28,000. Victory Capital Management Inc. purchased a new position in shares of Innoviz Technologies in the 4th quarter worth about $54,000. Finally, Jump Financial LLC purchased a new position in shares of Innoviz Technologies in the 4th quarter worth about $106,000. 63.26% of the stock is currently owned by hedge funds and other 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.