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 published on Monday morning, Benzinga reports. They currently have a $2.00 target price on the stock.

Other research analysts also recently issued reports about the company. Rosenblatt Securities reiterated a neutral rating and set a $3.25 target price on shares of Innoviz Technologies in a research note on Tuesday, September 10th. The Goldman Sachs Group cut shares of Innoviz Technologies from a buy rating to a neutral rating and reduced their price objective for the stock from $2.25 to $1.00 in a research report on Thursday, July 11th. Finally, 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $3.85.

Innoviz Technologies Trading Up 1.9 %

NASDAQ:INVZ opened at $0.82 on Monday. The firm has a fifty day simple moving average of $0.71 and a 200 day simple moving average of $0.96. Innoviz Technologies has a 1-year low of $0.50 and a 1-year high of $2.99. The stock has a market capitalization of $111.75 million, a PE ratio of -1.07 and a beta of 1.02.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) earnings per share 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 firm had revenue of $6.66 million for the quarter, compared to analyst estimates of $4.77 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. On average, equities analysts predict that Innoviz Technologies will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kovack Advisors Inc. acquired a new position in shares of Innoviz Technologies in the first quarter valued at about $28,000. Ground Swell Capital LLC bought a new position in shares of Innoviz Technologies during the second quarter worth approximately $26,000. Virtu Financial LLC raised its position in shares of Innoviz Technologies by 85.2% in the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock valued at $116,000 after buying an additional 39,633 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Innoviz Technologies in the fourth quarter valued at approximately $255,000. Finally, Koshinski Asset Management Inc. grew its position in Innoviz Technologies by 232.1% during the first 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 in the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.

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.