Cantor Fitzgerald Reiterates “Overweight” Rating for Innoviz Technologies (NASDAQ:INVZ)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a report published on Monday, Benzinga reports. The firm currently has a $2.00 price target on the stock.

A number of other research firms have also weighed in on INVZ. Rosenblatt Securities reissued a neutral rating and set a $3.25 price objective on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Westpark Capital reissued a buy rating and issued a $6.00 price objective on shares of Innoviz Technologies in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group cut shares of Innoviz Technologies from a buy rating to a neutral rating and reduced their target price for the company from $2.25 to $1.00 in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $3.85.

Innoviz Technologies Trading Up 5.7 %

Shares of INVZ stock opened at $0.78 on Monday. The stock has a 50 day moving average of $0.71 and a 200 day moving average of $0.98. Innoviz Technologies has a twelve month low of $0.50 and a twelve month high of $2.99. The stock has a market cap of $106.22 million, a P/E ratio of -1.01 and a beta of 0.99.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. The company had revenue of $6.66 million for the quarter, compared to analysts’ expectations of $4.77 million. During the same period in the previous year, the business earned ($0.23) earnings per share. On average, research analysts predict that Innoviz Technologies will post -0.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ground Swell Capital LLC purchased a new stake in Innoviz Technologies in the 2nd quarter valued at approximately $26,000. Kovack Advisors Inc. acquired a new stake in Innoviz Technologies in the first quarter valued at $28,000. Victory Capital Management Inc. purchased a new stake in shares of Innoviz Technologies during the 4th quarter worth $54,000. Jump Financial LLC acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at about $106,000. Finally, Virtu Financial LLC boosted its holdings in Innoviz Technologies by 85.2% during the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after buying an additional 39,633 shares in the last quarter. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

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.