Innoviz Technologies’ (INVZ) “Buy” Rating Reaffirmed at Westpark Capital

Westpark Capital restated their buy rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $2.22 target price on the stock.

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

Innoviz Technologies Price Performance

NASDAQ:INVZ opened at $1.01 on Tuesday. The firm has a market capitalization of $200.95 million, a P/E ratio of -1.58 and a beta of 0.84. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $3.14. The company’s fifty day moving average price is $0.68 and its 200-day moving average price is $0.96.

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

Institutional Trading of Innoviz Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INVZ. FNY Investment Advisers LLC acquired a new stake in Innoviz Technologies during the fourth quarter valued at $25,000. Koshinski Asset Management Inc. acquired a new stake in Innoviz Technologies during the fourth quarter valued at $169,000. Traynor Capital Management Inc. acquired a new stake in Innoviz Technologies during the fourth quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. grew 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 valued at $11,434,000 after buying an additional 810,731 shares during the period. Finally, Sprott Inc. acquired a new stake in Innoviz Technologies during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

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.