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

Innoviz Technologies (NASDAQ:INVZ)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $2.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 185.71% from the company’s previous close.

Several other equities analysts have also recently weighed in on INVZ. Rosenblatt Securities reaffirmed a “neutral” rating and set a $3.25 target price on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Westpark Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Innoviz Technologies in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group downgraded shares of Innoviz Technologies from a “buy” rating to a “neutral” rating and cut their target price for the stock from $2.25 to $1.00 in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.85.

Innoviz Technologies Trading Down 3.5 %

INVZ stock traded down $0.03 during mid-day trading on Monday, reaching $0.70. 354,448 shares of the stock traded hands, compared to its average volume of 2,217,331. Innoviz Technologies has a 52-week low of $0.50 and a 52-week high of $2.99. The stock’s fifty day moving average is $0.73 and its 200-day moving average is $1.00. The company has a market cap of $95.33 million, a P/E ratio of -0.91 and a beta of 0.99.

Innoviz Technologies (NASDAQ:INVZ) last announced its earnings results 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). The firm had revenue of $6.66 million for the quarter, compared to analyst estimates of $4.77 million. Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. During the same period last year, the firm earned ($0.23) earnings per share. Equities research analysts expect that Innoviz Technologies will post -0.64 earnings per share for the current year.

Institutional Trading of Innoviz Technologies

A number of institutional investors have recently added to or reduced their stakes in INVZ. Ground Swell Capital LLC bought a new position in shares of Innoviz Technologies during the 2nd quarter valued at $26,000. Kovack Advisors Inc. acquired a new stake in shares of Innoviz Technologies in the first quarter worth about $28,000. Victory Capital Management Inc. bought a new stake in shares of Innoviz Technologies during the 4th quarter worth about $54,000. Jump Financial LLC acquired a new position in shares of Innoviz Technologies during the 4th quarter valued at about $106,000. Finally, Virtu Financial LLC raised its stake in shares of Innoviz Technologies by 85.2% in the 1st quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock valued at $116,000 after acquiring an additional 39,633 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors and hedge funds.

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.