Innoviz Technologies (NASDAQ:INVZ) Price Target Cut to $0.75 by Analysts at The Goldman Sachs Group

Innoviz Technologies (NASDAQ:INVZ) had its price objective decreased by The Goldman Sachs Group from $1.00 to $0.75 in a report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research analysts have also weighed in on the company. Westpark Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Innoviz Technologies in a research report on Tuesday, August 6th. Rosenblatt Securities restated a “neutral” rating and issued a $3.25 target price on shares of Innoviz Technologies in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald downgraded shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday. Three equities research 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 company presently has a consensus rating of “Hold” and an average target price of $3.80.

Innoviz Technologies Stock Down 2.6 %

Shares of INVZ opened at $0.49 on Thursday. The business has a 50-day simple moving average of $0.71 and a two-hundred day simple moving average of $0.84. The stock has a market cap of $66.32 million, a PE ratio of -0.76 and a beta of 1.06. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $2.99.

Hedge Funds Weigh In On Innoviz Technologies

A number of hedge funds have recently modified their holdings of the company. Ground Swell Capital LLC purchased a new position in shares of Innoviz Technologies during the second quarter valued at about $26,000. Virtu Financial LLC lifted its position in Innoviz Technologies by 85.2% during the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock valued at $116,000 after acquiring an additional 39,633 shares during the period. Choreo LLC bought a new stake in shares of Innoviz Technologies in the 2nd quarter worth approximately $185,000. Tidal Investments LLC purchased a new stake in shares of Innoviz Technologies in the first quarter worth $258,000. Finally, Koshinski Asset Management Inc. increased its stake in Innoviz Technologies by 232.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 200,308 shares of the company’s stock valued at $270,000 after purchasing an additional 140,000 shares in the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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.