Innoviz Technologies (NASDAQ:INVZ) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $2.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Westpark Capital reaffirmed a buy rating and set a $6.00 price target on shares of Innoviz Technologies in a research report on Tuesday, August 6th. The Goldman Sachs Group lowered Innoviz Technologies from a buy rating to a neutral rating and lowered their price target for the company from $2.25 to $1.00 in a report on Thursday, July 11th. Finally, Rosenblatt Securities reissued a neutral rating and set a $3.25 target price on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $3.85.

Innoviz Technologies Stock Up 5.7 %

Innoviz Technologies stock opened at $0.78 on Monday. Innoviz Technologies has a 52-week low of $0.50 and a 52-week high of $2.99. The firm has a fifty day moving average of $0.71 and a 200-day moving average of $0.98. The firm has a market capitalization of $106.22 million, a P/E ratio of -1.01 and a beta of 0.99.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. The firm had revenue of $6.66 million for the quarter, compared to analyst estimates of $4.77 million. During the same period in the previous year, the business posted ($0.23) earnings per share. On average, research analysts expect that Innoviz Technologies will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SkyView Investment Advisors LLC bought a new position in Innoviz Technologies during the 2nd quarter valued at about $371,000. Interval Partners LP boosted its position in Innoviz Technologies by 19.6% in the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after buying an additional 444,823 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Innoviz Technologies in the 2nd quarter valued at $26,000. Cowen AND Company LLC raised its position in shares of Innoviz Technologies by 315.8% during the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock worth $7,538,000 after acquiring an additional 6,172,864 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of Innoviz Technologies during the second quarter valued at $185,000. 63.26% of the stock is owned by institutional investors.

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.