Cantor Fitzgerald Lowers Innoviz Technologies (NASDAQ:INVZ) Price Target to $3.00

Innoviz Technologies (NASDAQ:INVZ) had its price objective dropped by research analysts at Cantor Fitzgerald from $4.00 to $3.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 136.22% from the company’s current price.

INVZ has been the subject of several other reports. The Goldman Sachs Group decreased their price objective on shares of Innoviz Technologies from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Thursday, January 25th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $7.00 price objective (down from $13.00) on shares of Innoviz Technologies in a research note on Tuesday, March 26th. Finally, Rosenblatt Securities cut their target price on Innoviz Technologies from $5.00 to $3.25 and set a “neutral” rating on the stock in a research report on Thursday, February 29th.

Innoviz Technologies Trading Down 2.3 %

Shares of INVZ traded down $0.03 during mid-day trading on Thursday, hitting $1.27. The company’s stock had a trading volume of 910,516 shares, compared to its average volume of 2,833,285. Innoviz Technologies has a 52-week low of $0.94 and a 52-week high of $4.39. The company’s 50-day moving average is $1.30 and its 200-day moving average is $1.71. The firm has a market capitalization of $172.95 million, a price-to-earnings ratio of -1.48 and a beta of 1.07.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). Innoviz Technologies had a negative return on equity of 78.39% and a negative net margin of 591.37%. The firm had revenue of $14.92 million during the quarter, compared to analysts’ expectations of $12.25 million. As a group, sell-side analysts predict that Innoviz Technologies will post -0.85 earnings per share for the current fiscal year.

Institutional Trading of Innoviz Technologies

Several large investors have recently added to or reduced their stakes in the company. Crown Wealth Group LLC acquired a new position in Innoviz Technologies in the fourth quarter valued at approximately $28,000. Tower Research Capital LLC TRC acquired a new position in Innoviz Technologies in the 4th quarter valued at $28,000. Daiwa Securities Group Inc. grew its holdings in Innoviz Technologies by 57.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 45,713 shares of the company’s stock valued at $116,000 after buying an additional 16,629 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Innoviz Technologies by 9.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 208,638 shares of the company’s stock worth $407,000 after purchasing an additional 17,933 shares during the period. Finally, Kovack Advisors Inc. purchased a new position in shares of Innoviz Technologies during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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.