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 note released on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $4.00 price objective on the stock.

INVZ has been the topic of several other reports. The Goldman Sachs Group lowered their target price on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Westpark Capital restated a “buy” rating and issued a $2.22 target price on shares of Innoviz Technologies in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3.19.

Innoviz Technologies Trading Up 0.7 %

Shares of NASDAQ INVZ opened at $0.74 on Thursday. The company has a market cap of $100.65 million, a price-to-earnings ratio of -1.15 and a beta of 0.72. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $3.14. The stock’s 50 day simple moving average is $1.46 and its 200 day simple moving average is $0.98.

Innoviz Technologies (NASDAQ:INVZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate 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 analysts’ expectations of $5.86 million. As a group, equities analysts forecast that Innoviz Technologies will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

Several hedge funds have recently modified their holdings of the company. Traynor Capital Management Inc. acquired a new position in shares of Innoviz Technologies in the 4th quarter worth $25,000. FNY Investment Advisers LLC acquired a new position in shares of Innoviz Technologies in the 4th quarter worth $25,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Innoviz Technologies by 12.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 158,200 shares of the company’s stock worth $266,000 after acquiring an additional 16,900 shares during the last quarter. Lido Advisors LLC acquired a new position in shares of Innoviz Technologies in the 4th quarter worth $29,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Innoviz Technologies in the 4th quarter worth $37,000. 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.