Cantor Fitzgerald Reaffirms Overweight Rating for Innoviz Technologies (NASDAQ:INVZ)

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

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group downgraded shares of Innoviz Technologies from a buy rating to a neutral rating and lowered their price objective for the company from $2.25 to $1.00 in a research report on Thursday, July 11th. Westpark Capital restated a buy rating and set a $6.00 price target on shares of Innoviz Technologies in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $3.85.

Innoviz Technologies Stock Up 3.8 %

INVZ opened at $0.57 on Monday. The firm has a market capitalization of $77.04 million, a P/E ratio of -0.73 and a beta of 0.99. The stock has a fifty day moving average of $0.75 and a 200-day moving average of $1.04. Innoviz Technologies has a 12-month low of $0.50 and a 12-month high of $2.99.

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

Institutional Trading of Innoviz Technologies

Several large investors have recently added to or reduced their stakes in INVZ. FIFTHDELTA Ltd lifted its stake in shares of Innoviz Technologies by 64.9% in the 1st quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock valued at $19,436,000 after purchasing an additional 5,668,684 shares during the last quarter. Cowen AND Company LLC lifted its position in shares of Innoviz Technologies by 315.8% in the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock worth $7,538,000 after buying an additional 6,172,864 shares during the last quarter. Interval Partners LP boosted its stake in shares of Innoviz Technologies by 19.6% during the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock worth $2,519,000 after acquiring an additional 444,823 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Innoviz Technologies by 22.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,427,590 shares of the company’s stock worth $3,498,000 after acquiring an additional 260,373 shares in the last quarter. Finally, SkyView Investment Advisors LLC acquired a new position in shares of Innoviz Technologies during the 2nd quarter valued at about $371,000. 63.26% of the stock is owned by 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.