Raymond James Financial Inc. Invests $87,000 in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Raymond James Financial Inc. bought a new stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 51,691 shares of the company’s stock, valued at approximately $87,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Traynor Capital Management Inc. purchased a new position in Innoviz Technologies during the fourth quarter valued at $25,000. FNY Investment Advisers LLC bought a new position in shares of Innoviz Technologies in the 4th quarter worth about $25,000. Sprott Inc. purchased a new position in Innoviz Technologies during the 4th quarter valued at about $54,000. SBI Securities Co. Ltd. bought a new stake in Innoviz Technologies during the fourth quarter worth about $156,000. Finally, Koshinski Asset Management Inc. purchased a new stake in Innoviz Technologies in the fourth quarter worth about $169,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $4.00 target price on shares of Innoviz Technologies in a report on Thursday, February 27th. Westpark Capital reaffirmed a “buy” rating and set a $2.22 price objective on shares of Innoviz Technologies in a research report on Tuesday, February 25th.

Innoviz Technologies Stock Performance

Shares of Innoviz Technologies stock opened at $0.58 on Friday. The company has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $0.97. The stock has a market capitalization of $114.74 million, a PE ratio of -0.90 and a beta of 0.86. Innoviz Technologies Ltd. has a 52-week low of $0.45 and a 52-week high of $3.14.

Innoviz Technologies (NASDAQ:INVZ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $6.03 million during the quarter, compared to the consensus estimate of $5.86 million. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. As a group, equities research analysts forecast that Innoviz Technologies Ltd. will post -0.6 EPS for the current fiscal year.

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.