Cowen AND Company LLC Grows Stock Holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Cowen AND Company LLC increased its position in Innoviz Technologies Ltd. (NASDAQ:INVZ - Free Report) by 315.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,127,316 shares of the company's stock after buying an additional 6,172,864 shares during the period. Cowen AND Company LLC owned 5.97% of Innoviz Technologies worth $7,538,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kovack Advisors Inc. acquired a new position in Innoviz Technologies during the 1st quarter valued at about $28,000. Victory Capital Management Inc. acquired a new position in Innoviz Technologies during the 4th quarter valued at about $54,000. Jump Financial LLC acquired a new position in Innoviz Technologies during the 4th quarter valued at about $106,000. Virtu Financial LLC boosted its stake in Innoviz Technologies by 85.2% during the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company's stock valued at $116,000 after purchasing an additional 39,633 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Innoviz Technologies by 474.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 57,454 shares of the company's stock valued at $145,000 after purchasing an additional 47,445 shares during the last quarter. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Innoviz Technologies Stock Performance

Shares of Innoviz Technologies stock traded up $0.03 during mid-day trading on Monday, hitting $0.56. 2,611,081 shares of the stock were exchanged, compared to its average volume of 2,244,048. The company has a market capitalization of $75.58 million, a P/E ratio of -0.72 and a beta of 0.99. The company has a 50-day simple moving average of $0.77 and a 200 day simple moving average of $1.05. Innoviz Technologies Ltd. has a 12 month low of $0.50 and a 12 month high of $2.99.

Innoviz Technologies (NASDAQ:INVZ - Get Free Report) last posted its quarterly 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). The company had revenue of $6.66 million during the quarter, compared to the consensus estimate of $4.77 million. Innoviz Technologies had a negative return on equity of 75.99% and a negative net margin of 338.67%. During the same period last year, the firm posted ($0.23) EPS. Analysts predict that Innoviz Technologies Ltd. will post -0.64 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $2.00 target price on shares of Innoviz Technologies in a research report on Monday. Westpark Capital reissued a "buy" rating and set a $6.00 target price on shares of Innoviz Technologies in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut shares of Innoviz Technologies from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $2.25 to $1.00 in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.85.

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.