Innoviz Technologies’ (INVZ) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $4.00 target price on the stock.

Separately, Westpark Capital restated a “buy” rating and issued a $2.22 target price on shares of Innoviz Technologies in a research note on Tuesday, May 13th.

Innoviz Technologies Stock Up 0.1%

Shares of INVZ opened at $0.99 on Thursday. Innoviz Technologies has a 52 week low of $0.45 and a 52 week high of $3.14. The company has a market capitalization of $196.10 million, a price-to-earnings ratio of -1.54 and a beta of 0.84. The stock’s 50-day moving average price is $0.69 and its 200-day moving average price is $0.97.

Innoviz Technologies (NASDAQ:INVZ) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Innoviz Technologies had a negative return on equity of 87.40% and a negative net margin of 321.53%. The firm had revenue of $6.03 million for the quarter, compared to the consensus estimate of $5.86 million. As a group, equities analysts anticipate that Innoviz Technologies will post -0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

Hedge funds have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. boosted its position in Innoviz Technologies by 13.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock worth $11,434,000 after purchasing an additional 810,731 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in Innoviz Technologies during the fourth quarter worth approximately $1,972,000. Raymond James Financial Inc. purchased a new position in Innoviz Technologies during the fourth quarter worth approximately $87,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Innoviz Technologies during the fourth quarter worth approximately $1,932,000. Finally, OneDigital Investment Advisors LLC purchased a new position in Innoviz Technologies during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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.