Innoviz Technologies (NASDAQ:INVZ) Earns Neutral Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Innoviz Technologies (NASDAQ:INVZ - Free Report) in a report released on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $3.25 price target on the stock.

Several other research analysts have also issued reports on the company. The Goldman Sachs Group lowered Innoviz Technologies from a buy rating to a neutral rating and reduced their target price for the company from $2.25 to $1.00 in a research report on Thursday, July 11th. Cantor Fitzgerald restated an overweight rating and set a $2.00 price objective on shares of Innoviz Technologies in a report on Monday. Finally, Westpark Capital reiterated a buy rating and issued a $6.00 target price on shares of Innoviz Technologies in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $3.85.

Innoviz Technologies Price Performance

Shares of INVZ stock traded down $0.01 during mid-day trading on Tuesday, hitting $0.55. 980,668 shares of the stock traded hands, compared to its average volume of 2,236,802. Innoviz Technologies has a 52-week low of $0.50 and a 52-week high of $2.99. The stock has a market cap of $74.22 million, a P/E ratio of -0.71 and a beta of 0.99. The stock's fifty day moving average is $0.76 and its two-hundred day moving average is $1.05.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last posted its earnings results 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 net margin of 338.67% and a negative return on equity of 75.99%. The firm had revenue of $6.66 million for the quarter, compared to analysts' expectations of $4.77 million. During the same period in the previous year, the company earned ($0.23) EPS. As a group, equities analysts forecast that Innoviz Technologies will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. FIFTHDELTA Ltd lifted its position in Innoviz Technologies by 64.9% during the first quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company's stock valued at $19,436,000 after purchasing an additional 5,668,684 shares during the period. Cowen AND Company LLC boosted its stake in shares of Innoviz Technologies by 315.8% in the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company's stock worth $7,538,000 after buying an additional 6,172,864 shares during the last quarter. Interval Partners LP grew its holdings in Innoviz Technologies by 19.6% during the second quarter. Interval Partners LP now owns 2,715,837 shares of the company's stock worth $2,519,000 after acquiring an additional 444,823 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Innoviz Technologies by 22.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,427,590 shares of the company's stock worth $3,498,000 after acquiring an additional 260,373 shares during the period. Finally, SkyView Investment Advisors LLC purchased a new position in Innoviz Technologies during the second quarter valued at approximately $371,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

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.