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

Cantor Fitzgerald reissued their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research note published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $3.00 price target on the stock.

Separately, JPMorgan Chase & Co. reissued an overweight rating and set a $7.00 price target (down previously from $13.00) on shares of Innoviz Technologies in a research report on Tuesday, March 26th.

Innoviz Technologies Trading Up 1.3 %

INVZ stock opened at $0.91 on Monday. Innoviz Technologies has a twelve month low of $0.83 and a twelve month high of $4.39. The company has a market capitalization of $124.10 million, a P/E ratio of -1.18 and a beta of 1.01. The firm has a 50 day simple moving average of $1.06 and a 200-day simple moving average of $1.47.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). Innoviz Technologies had a negative return on equity of 79.64% and a negative net margin of 441.23%. The company had revenue of $7.06 million for the quarter, compared to analyst estimates of $5.99 million. On average, research analysts predict that Innoviz Technologies will post -0.75 EPS for the current year.

Hedge Funds Weigh In On Innoviz Technologies

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its stake 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 purchasing an additional 39,633 shares during the last quarter. Tidal Investments LLC bought a new position in Innoviz Technologies during the first quarter worth $258,000. FIFTHDELTA Ltd lifted its stake in Innoviz Technologies by 64.9% during the first quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock worth $19,436,000 after purchasing an additional 5,668,684 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Innoviz Technologies by 232.1% during the first quarter. Koshinski Asset Management Inc. now owns 200,308 shares of the company’s stock worth $270,000 after purchasing an additional 140,000 shares during the last quarter. Finally, Kovack Advisors Inc. bought a new stake in Innoviz Technologies in the first quarter valued at $28,000. 63.26% of the stock is currently owned by institutional investors.

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.