Innoviz Technologies (NASDAQ:INVZ) Shares Gap Up to $4.00

Innoviz Technologies Ltd. (NASDAQ:INVZGet Rating)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.00, but opened at $5.14. Innoviz Technologies shares last traded at $4.58, with a volume of 81,536 shares trading hands.

Innoviz Technologies Trading Up 15.6 %

The firm’s 50-day moving average is $3.98 and its 200-day moving average is $3.85. The company has a current ratio of 12.59, a quick ratio of 12.36 and a debt-to-equity ratio of 0.02. The firm has a market cap of $737.85 million, a price-to-earnings ratio of -4.56 and a beta of 0.39.

Innoviz Technologies (NASDAQ:INVZGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The company reported ($0.23) earnings per share (EPS) for the quarter. Innoviz Technologies had a negative net margin of 2,504.39% and a negative return on equity of 52.83%. The business had revenue of $1.77 million during the quarter. As a group, sell-side analysts anticipate that Innoviz Technologies Ltd. will post -1.14 EPS for the current fiscal year.

Institutional Trading of Innoviz Technologies

Several hedge funds have recently bought and sold shares of the business. Magma Venture Partners General Partner Ltd. acquired a new stake in Innoviz Technologies in the 4th quarter valued at $60,016,000. FIFTHDELTA Ltd boosted its holdings in Innoviz Technologies by 276.7% during the 1st quarter. FIFTHDELTA Ltd now owns 3,600,128 shares of the company’s stock worth $13,032,000 after acquiring an additional 2,644,302 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Innoviz Technologies during the 1st quarter worth $11,776,000. Neuberger Berman Group LLC boosted its holdings in Innoviz Technologies by 72.8% during the 1st quarter. Neuberger Berman Group LLC now owns 2,784,998 shares of the company’s stock worth $10,087,000 after acquiring an additional 1,173,572 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Innoviz Technologies during the 2nd quarter worth $8,806,000. Institutional investors and hedge funds own 48.56% of the company’s stock.

Innoviz Technologies Company Profile

(Get Rating)

Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.

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