Innoviz Technologies (NASDAQ:INVZ) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a report released on Monday morning, Benzinga reports. They currently have a $3.00 price objective on the stock.

Separately, JPMorgan Chase & Co. reissued an overweight rating and issued a $7.00 price target (down from $13.00) on shares of Innoviz Technologies in a report on Tuesday, March 26th.

Innoviz Technologies Stock Up 1.3 %

Shares of INVZ stock opened at $0.91 on Monday. The company has a 50 day moving average of $1.06 and a 200-day moving average of $1.48. Innoviz Technologies has a 12-month low of $0.83 and a 12-month high of $4.39. The firm has a market cap of $124.10 million, a P/E ratio of -1.18 and a beta of 1.01.

Innoviz Technologies (NASDAQ:INVZ) last posted its earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.05). Innoviz Technologies had a negative return on equity of 79.64% and a negative net margin of 441.23%. The business had revenue of $7.06 million during the quarter, compared to analysts’ expectations of $5.99 million. As a group, equities analysts expect that Innoviz Technologies will post -0.75 EPS for the current year.

Hedge Funds Weigh In On Innoviz Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its position in shares of 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 last quarter. Tidal Investments LLC purchased a new stake in Innoviz Technologies in the first quarter valued at approximately $258,000. FIFTHDELTA Ltd grew its stake in Innoviz Technologies by 64.9% in the 1st quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock worth $19,436,000 after buying an additional 5,668,684 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Innoviz Technologies by 232.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 200,308 shares of the company’s stock worth $270,000 after buying an additional 140,000 shares during the last quarter. Finally, Kovack Advisors Inc. purchased a new stake in shares of Innoviz Technologies during the 1st quarter valued at $28,000. 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.