Innoviz Technologies’ (INVZ) Overweight Rating Reiterated at Cantor Fitzgerald

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

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. restated an overweight rating and issued a $7.00 price target (down previously from $13.00) on shares of Innoviz Technologies in a research report on Tuesday, March 26th. The Goldman Sachs Group cut shares of Innoviz Technologies from a buy rating to a neutral rating and reduced their price target for the stock from $2.25 to $1.00 in a research report on Thursday, July 11th.

Innoviz Technologies Stock Performance

INVZ stock opened at $0.78 on Monday. Innoviz Technologies has a one year low of $0.71 and a one year high of $4.39. The company’s fifty day moving average price is $0.98 and its 200-day moving average price is $1.30. The company has a market capitalization of $105.96 million, a PE ratio of -1.01 and a beta of 1.01.

Innoviz Technologies (NASDAQ:INVZ) last released its earnings results on Wednesday, May 8th. The company reported ($0.18) EPS 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 company had revenue of $7.06 million during the quarter, compared to analysts’ expectations of $5.99 million. On average, research analysts predict that Innoviz Technologies will post -0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Crown Wealth Group LLC bought a new position in Innoviz Technologies during the fourth quarter valued at $28,000. Tower Research Capital LLC TRC bought a new position in Innoviz Technologies during the fourth quarter valued at $28,000. Daiwa Securities Group Inc. increased its position in Innoviz Technologies by 57.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,713 shares of the company’s stock valued at $116,000 after acquiring an additional 16,629 shares during the last quarter. Kovack Advisors Inc. bought a new position in Innoviz Technologies during the first quarter valued at $28,000. Finally, Victory Capital Management Inc. bought a new position in Innoviz Technologies during the fourth quarter valued at $54,000. 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.