Westpark Capital Reaffirms "Buy" Rating for Innoviz Technologies (NASDAQ:INVZ)

Westpark Capital reissued their buy rating on shares of Innoviz Technologies (NASDAQ:INVZ - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. Westpark Capital currently has a $2.22 price target on the stock.

Several other brokerages have also recently issued reports on INVZ. Cantor Fitzgerald cut shares of Innoviz Technologies from an "overweight" rating to a "neutral" rating in a report on Thursday, November 14th. Rosenblatt Securities raised shares of Innoviz Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, The Goldman Sachs Group dropped their target price on shares of Innoviz Technologies from $1.00 to $0.75 and set a "neutral" rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $3.19.

Innoviz Technologies Price Performance

Innoviz Technologies stock traded up $0.00 during mid-day trading on Tuesday, hitting $0.74. The company's stock had a trading volume of 5,501,757 shares, compared to its average volume of 14,515,616. The business has a 50 day moving average price of $1.46 and a 200-day moving average price of $0.98. Innoviz Technologies has a 12 month low of $0.45 and a 12 month high of $3.14. The stock has a market cap of $100.65 million, a price-to-earnings ratio of -1.15 and a beta of 0.72.

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Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.11). Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. The company had revenue of $6.03 million during the quarter, compared to analyst estimates of $5.86 million. On average, equities research analysts expect that Innoviz Technologies will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innoviz Technologies

Several institutional investors and hedge funds have recently modified their holdings of INVZ. Traynor Capital Management Inc. purchased a new position in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new position in shares of Innoviz Technologies during the 4th quarter worth approximately $25,000. Lido Advisors LLC bought a new position in shares of Innoviz Technologies in the 4th quarter worth approximately $29,000. OneDigital Investment Advisors LLC bought a new position in shares of Innoviz Technologies in the 4th quarter worth approximately $37,000. Finally, Sprott Inc. bought a new position in shares of Innoviz Technologies in the 4th quarter worth approximately $54,000. 63.26% of the stock is 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.