Raymond James Financial Inc. Takes $87,000 Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Raymond James Financial Inc. purchased a new stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 51,691 shares of the company’s stock, valued at approximately $87,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Traynor Capital Management Inc. bought a new position in Innoviz Technologies during the fourth quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in shares of Innoviz Technologies in the fourth quarter valued at approximately $25,000. Sprott Inc. bought a new position in shares of Innoviz Technologies in the fourth quarter valued at approximately $54,000. SBI Securities Co. Ltd. bought a new position in shares of Innoviz Technologies in the fourth quarter valued at approximately $156,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Innoviz Technologies in the fourth quarter valued at approximately $168,000. Institutional investors own 63.26% of the company’s stock.

Analysts Set New Price Targets

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

Innoviz Technologies Trading Up 10.2%

Innoviz Technologies stock opened at $1.01 on Wednesday. The firm has a 50 day moving average of $0.68 and a 200 day moving average of $0.96. The firm has a market capitalization of $200.95 million, a price-to-earnings ratio of -1.58 and a beta of 0.84. Innoviz Technologies Ltd. has a 12-month low of $0.45 and a 12-month high of $3.14.

Innoviz Technologies (NASDAQ:INVZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $5.86 million. On average, analysts predict that Innoviz Technologies Ltd. will post -0.6 EPS for the current year.

Innoviz Technologies 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.