Innoviz Technologies (NASDAQ:INVZ) Earns "Overweight" Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ - Free Report) in a report released on Monday, Benzinga reports. They currently have a $2.00 price objective on the stock.

Several other research firms have also recently weighed in on INVZ. The Goldman Sachs Group cut Innoviz Technologies from a buy rating to a neutral rating and reduced 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 issued a $6.00 price target on shares of Innoviz Technologies in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Innoviz Technologies has an average rating of Moderate Buy and an average price target of $3.85.

Innoviz Technologies Trading Up 4.7 %

INVZ traded up $0.03 during trading on Monday, hitting $0.56. The stock had a trading volume of 2,611,081 shares, compared to its average volume of 2,244,048. The firm has a market cap of $75.58 million, a PE ratio of -0.72 and a beta of 0.99. Innoviz Technologies has a 12 month low of $0.50 and a 12 month high of $2.99. The company has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $1.05.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $4.77 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts anticipate that Innoviz Technologies will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

Hedge funds have recently made changes to their positions in the business. Kovack Advisors Inc. bought a new stake in Innoviz Technologies in the first quarter valued at about $28,000. Victory Capital Management Inc. bought a new stake in shares of Innoviz Technologies in the 4th quarter valued at approximately $54,000. Ground Swell Capital LLC acquired a new position in shares of Innoviz Technologies in the 2nd quarter worth approximately $26,000. Virtu Financial LLC lifted its position in shares of Innoviz Technologies by 85.2% during the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company's stock worth $116,000 after buying an additional 39,633 shares during the period. Finally, Jump Financial LLC acquired a new stake in Innoviz Technologies in the 4th quarter valued at $106,000. Institutional investors and hedge funds 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.