Innoviz Technologies (NASDAQ:INVZ) Earns Buy Rating from Westpark Capital

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “buy” rating reissued by equities research analysts at Westpark Capital in a report released on Tuesday,Benzinga reports. They presently have a $2.22 price objective on the stock. Westpark Capital’s price objective would suggest a potential upside of 133.68% from the company’s previous close.

Separately, Rosenblatt Securities restated a “buy” rating and set a $4.00 price objective on shares of Innoviz Technologies in a research report on Thursday, February 27th.

Innoviz Technologies Trading Down 5.9%

Innoviz Technologies stock opened at $0.95 on Tuesday. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14. The stock has a market cap of $189.01 million, a P/E ratio of -1.48 and a beta of 0.84. The company has a 50-day moving average price of $0.68 and a 200 day moving average price of $0.96.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The firm had revenue of $17.39 million during the quarter, compared to analysts’ expectations of $9.00 million. As a group, analysts forecast that Innoviz Technologies will post -0.6 EPS for the current year.

Institutional Investors Weigh In On Innoviz Technologies

A number of institutional investors have recently made changes to their positions in INVZ. Traynor Capital Management Inc. acquired a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. Lido Advisors LLC acquired a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $29,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $37,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Innoviz Technologies in the first quarter valued at approximately $40,000. 63.26% of the stock is currently owned by institutional investors and hedge funds.

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.