New Age Alpha Advisors LLC Acquires New Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

New Age Alpha Advisors LLC bought a new position in Innoviz Technologies Ltd. (NASDAQ:INVZ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $168,000. New Age Alpha Advisors LLC owned approximately 0.07% of Innoviz Technologies as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Traynor Capital Management Inc. purchased a new stake in shares of Innoviz Technologies during the fourth quarter worth $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Innoviz Technologies during the 4th quarter worth about $25,000. Sprott Inc. acquired a new stake in shares of Innoviz Technologies during the 4th quarter valued at about $54,000. Raymond James Financial Inc. bought a new stake in shares of Innoviz Technologies in the 4th quarter valued at approximately $87,000. Finally, SBI Securities Co. Ltd. bought a new position in Innoviz Technologies during the fourth quarter valued at approximately $156,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

Wall Street Analysts Forecast Growth

INVZ has been the topic of several analyst reports. Rosenblatt Securities restated a “buy” rating and set a $4.00 price target on shares of Innoviz Technologies in a research note on Thursday, February 27th. Westpark Capital reissued a “buy” rating and set a $2.22 target price on shares of Innoviz Technologies in a research report on Tuesday, February 25th.

Innoviz Technologies Trading Down 0.0 %

Shares of Innoviz Technologies stock opened at $0.62 on Thursday. The firm has a fifty day simple moving average of $0.97 and a 200-day simple moving average of $0.98. The stock has a market capitalization of $104.96 million, a price-to-earnings ratio of -0.97 and a beta of 0.84. Innoviz Technologies Ltd. has a 1-year low of $0.45 and a 1-year high of $3.14.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The company 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%. As a group, research analysts predict that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current year.

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.