Innoviz Technologies (NASDAQ:INVZ) Rating Lowered to “Strong Sell” at Wall Street Zen
by Mitch Edgeman · The Markets DailyInnoviz Technologies (NASDAQ:INVZ – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Innoviz Technologies in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $3.10.
Get Our Latest Research Report on Innoviz Technologies
Innoviz Technologies Price Performance
Shares of NASDAQ INVZ opened at $0.68 on Friday. The company has a market cap of $145.34 million, a PE ratio of -1.99 and a beta of 1.52. Innoviz Technologies has a 12 month low of $0.54 and a 12 month high of $2.54. The company has a 50-day simple moving average of $0.80 and a 200-day simple moving average of $1.23.
Innoviz Technologies (NASDAQ:INVZ – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $12.67 million for the quarter, compared to analysts’ expectations of $15.00 million. Innoviz Technologies had a negative return on equity of 73.64% and a negative net margin of 123.06%. On average, analysts anticipate that Innoviz Technologies will post -0.6 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Penn Capital Management Company LLC acquired a new position in Innoviz Technologies during the fourth quarter valued at approximately $188,000. Forefront Wealth Partners LLC purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at approximately $1,097,000. SBI Securities Co. Ltd. raised its stake in shares of Innoviz Technologies by 15.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 314,937 shares of the company’s stock valued at $269,000 after purchasing an additional 41,937 shares during the period. Finally, Aquamarine Financial Cayman Ltd purchased a new stake in shares of Innoviz Technologies during the fourth quarter valued at approximately $151,000. 63.26% of the stock is owned by institutional investors and hedge funds.
About Innoviz Technologies
Innoviz Technologies Ltd. (NASDAQ: INVZ) is a developer of high-performance solid-state LiDAR sensors and perception software designed to support advanced driver assistance systems (ADAS) and autonomous driving applications. The company’s core business focuses on providing automotive-grade LiDAR hardware, along with software algorithms that enable accurate 3D mapping, object detection and environmental perception in real time. Innoviz’s technology is tailored for integration into passenger vehicles, commercial fleets and other mobility platforms seeking improved safety and autonomy.
Founded in 2016 and headquartered in Rosh Ha’ayin, Israel, Innoviz has emerged as a key supplier to leading global automakers and Tier 1 suppliers.