Innoviz Technologies (NASDAQ:INVZ) Earns Buy Rating from Westpark Capital

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

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

Innoviz Technologies Stock Up 0.7 %

NASDAQ:INVZ traded up $0.00 on Tuesday, hitting $0.74. The stock had a trading volume of 5,501,757 shares, compared to its average volume of 14,515,616. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $3.14. The business's fifty day moving average is $1.47 and its 200 day moving average is $0.98. The company has a market cap of $100.65 million, a PE ratio of -1.15 and a beta of 0.72.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC bought a new stake in shares of Innoviz Technologies during the 4th quarter worth $1,972,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Innoviz Technologies during the fourth quarter valued at $1,932,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Innoviz Technologies by 13.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company's stock valued at $11,434,000 after buying an additional 810,731 shares during the period. Polar Asset Management Partners Inc. raised its stake in shares of Innoviz Technologies by 29.6% in the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company's stock valued at $2,665,000 after buying an additional 735,300 shares during the period. Finally, Nomura Holdings Inc. lifted its position in shares of Innoviz Technologies by 272.5% during the 4th quarter. Nomura Holdings Inc. now owns 791,520 shares of the company's stock valued at $1,330,000 after buying an additional 579,020 shares during the last quarter. Hedge funds and other institutional investors own 63.26% of the company's stock.

About Innoviz Technologies

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.