Daiwa Securities Group Inc. Acquires 16,629 Shares of Innoviz Technologies Ltd. (NASDAQ:INVZ)

Daiwa Securities Group Inc. raised its holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 57.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,713 shares of the company’s stock after acquiring an additional 16,629 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Innoviz Technologies were worth $116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cowen AND Company LLC boosted its position in shares of Innoviz Technologies by 26.6% during the third quarter. Cowen AND Company LLC now owns 6,348,824 shares of the company’s stock worth $12,380,000 after purchasing an additional 1,332,991 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Innoviz Technologies by 38.1% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,795,000 shares of the company’s stock worth $14,661,000 after purchasing an additional 1,600,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Innoviz Technologies by 124.7% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,046,139 shares of the company’s stock worth $9,840,000 after purchasing an additional 2,799,962 shares in the last quarter. Barclays PLC boosted its position in shares of Innoviz Technologies by 85.6% during the third quarter. Barclays PLC now owns 3,040,724 shares of the company’s stock worth $5,929,000 after purchasing an additional 1,402,100 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Innoviz Technologies by 70.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,010,237 shares of the company’s stock worth $5,870,000 after purchasing an additional 1,248,834 shares in the last quarter. 63.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INVZ shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $7.00 price target (down from $13.00) on shares of Innoviz Technologies in a research report on Tuesday, March 26th. The Goldman Sachs Group reduced their price target on shares of Innoviz Technologies from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Rosenblatt Securities dropped their price objective on shares of Innoviz Technologies from $5.00 to $3.25 and set a “neutral” rating on the stock in a report on Thursday, February 29th.

Innoviz Technologies Stock Up 15.7 %

Shares of NASDAQ:INVZ opened at $1.18 on Friday. Innoviz Technologies Ltd. has a 12 month low of $0.94 and a 12 month high of $4.39. The company’s fifty day simple moving average is $1.37 and its 200 day simple moving average is $1.73. The firm has a market cap of $160.70 million, a price-to-earnings ratio of -1.39 and a beta of 1.04.

Innoviz Technologies (NASDAQ:INVZ) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). Innoviz Technologies had a negative net margin of 591.37% and a negative return on equity of 78.39%. The firm had revenue of $14.92 million for the quarter, compared to analyst estimates of $12.25 million. Research analysts expect that Innoviz Technologies Ltd. will post -0.85 earnings per share for the current fiscal year.

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.