Moore Capital Management LP Takes Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Moore Capital Management LP acquired a new stake in Innoviz Technologies Ltd. (NASDAQ:INVZ) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $84,000.

A number of other institutional investors also recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Innoviz Technologies by 13.5% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock valued at $11,434,000 after purchasing an additional 810,731 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of Innoviz Technologies in the 4th quarter valued at $1,972,000. Summit X LLC boosted its stake in shares of Innoviz Technologies by 218.3% in the 4th quarter. Summit X LLC now owns 275,417 shares of the company’s stock valued at $463,000 after purchasing an additional 188,876 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake 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 valued at $266,000 after purchasing an additional 16,900 shares in the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of Innoviz Technologies in the 4th quarter valued at $169,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Stock Up 10.2%

Shares of INVZ opened at $1.01 on Wednesday. The stock has a market capitalization of $200.95 million, a P/E ratio of -1.58 and a beta of 0.84. The firm has a fifty day simple moving average of $0.68 and a two-hundred day simple moving average of $0.96. Innoviz Technologies Ltd. has a twelve month low of $0.45 and a twelve month high of $3.14.

Innoviz Technologies (NASDAQ:INVZ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The business had revenue of $6.03 million during the quarter, compared to analyst estimates of $5.86 million. Sell-side analysts expect that Innoviz Technologies Ltd. will post -0.6 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.