Sprott Inc. Acquires Shares of 32,000 Innoviz Technologies Ltd. (NASDAQ:INVZ)

Sprott Inc. acquired a new stake in Innoviz Technologies Ltd. (NASDAQ:INVZ) in the fourth quarter, Holdings Channel.com reports. The firm acquired 32,000 shares of the company’s stock, valued at approximately $54,000.

Several other large investors have also made changes to their positions in the business. Traynor Capital Management Inc. acquired a new stake in Innoviz Technologies in the 4th quarter valued at $25,000. FNY Investment Advisers LLC purchased a new position in Innoviz Technologies during the fourth quarter valued at $25,000. Koshinski Asset Management Inc. acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at about $169,000. Polar Asset Management Partners Inc. increased its stake in shares of Innoviz Technologies by 29.6% during the third quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after purchasing an additional 735,300 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of 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 purchasing an additional 810,731 shares during the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.

Innoviz Technologies Price Performance

INVZ opened at $0.78 on Thursday. The firm has a market capitalization of $106.22 million, a price-to-earnings ratio of -1.22 and a beta of 0.72. The company’s 50 day simple moving average is $1.47 and its two-hundred day simple moving average is $0.98. Innoviz Technologies Ltd. has a 1-year low of $0.45 and a 1-year high of $3.14.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on INVZ. Westpark Capital reiterated a “buy” rating and issued a $2.22 price objective on shares of Innoviz Technologies in a report on Tuesday. Rosenblatt Securities upgraded Innoviz Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.25 to $4.00 in a research report on Friday, December 20th. The Goldman Sachs Group dropped their price target on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald lowered Innoviz Technologies from an “overweight” rating to a “neutral” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.19.

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.