Innoviz Technologies (NASDAQ:INVZ) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research note issued to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $2.00 price objective on the stock.

INVZ has been the subject of several other reports. The Goldman Sachs Group cut shares of Innoviz Technologies from a buy rating to a neutral rating and cut their target price for the company from $2.25 to $1.00 in a research note on Thursday, July 11th. Westpark Capital reiterated a buy rating and issued a $6.00 target price on shares of Innoviz Technologies in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $3.85.

Innoviz Technologies Price Performance

INVZ stock opened at $0.68 on Monday. The stock has a market capitalization of $92.37 million, a price-to-earnings ratio of -0.88 and a beta of 0.99. The company has a 50-day moving average of $0.75 and a two-hundred day moving average of $1.04. Innoviz Technologies has a 52-week low of $0.50 and a 52-week high of $2.99.

Innoviz Technologies (NASDAQ:INVZ) last announced its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $6.66 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned ($0.23) EPS. Equities analysts expect that Innoviz Technologies will post -0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Innoviz Technologies

Hedge funds have recently made changes to their positions in the business. SkyView Investment Advisors LLC bought a new stake in Innoviz Technologies in the second quarter valued at about $371,000. Interval Partners LP grew its stake in shares of Innoviz Technologies by 19.6% in the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after purchasing an additional 444,823 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Innoviz Technologies in the 2nd quarter worth approximately $26,000. Cowen AND Company LLC lifted its position in shares of Innoviz Technologies by 315.8% during the 2nd quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock worth $7,538,000 after buying an additional 6,172,864 shares during the period. Finally, Choreo LLC acquired a new stake in Innoviz Technologies in the 2nd quarter valued at $185,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

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.