Westpark Capital Reaffirms Buy Rating for Innoviz Technologies (NASDAQ:INVZ)

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “buy” rating reissued by Westpark Capital in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $2.22 price target on the stock. Westpark Capital’s price target would suggest a potential upside of 184.62% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price objective on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Rosenblatt Securities raised Innoviz Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $3.25 to $4.00 in a research note on Friday, December 20th. Finally, Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.19.

Innoviz Technologies Price Performance

Shares of INVZ stock opened at $0.78 on Tuesday. Innoviz Technologies has a one year low of $0.45 and a one year high of $3.14. The stock has a fifty day moving average price of $1.47 and a 200 day moving average price of $0.98. The stock has a market cap of $106.22 million, a P/E ratio of -1.22 and a beta of 0.72.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings data 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 net margin of 321.53% and a negative return on equity of 87.40%. The company had revenue of $6.03 million during the quarter, compared to the consensus estimate of $5.86 million. Equities research analysts anticipate that Innoviz Technologies will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Polar Asset Management Partners Inc. increased its holdings in Innoviz Technologies by 29.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock valued at $2,665,000 after purchasing an additional 735,300 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Innoviz Technologies during the fourth quarter worth $25,000. Koshinski Asset Management Inc. acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at $169,000. Traynor Capital Management Inc. bought a new position in shares of Innoviz Technologies in the fourth quarter valued at about $25,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Innoviz Technologies by 13.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock worth $11,434,000 after buying an additional 810,731 shares in the last quarter. 63.26% of the stock is 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.