Innoviz Technologies (NASDAQ:INVZ) Downgraded by Cantor Fitzgerald to Neutral

Cantor Fitzgerald downgraded shares of Innoviz Technologies (NASDAQ:INVZ) from an overweight rating to a neutral rating in a research report report published on Thursday, MarketBeat.com reports.

Other equities analysts have also recently issued research reports about the company. Westpark Capital reissued a “buy” rating and issued a $6.00 price target on shares of Innoviz Technologies in a research note on Tuesday, August 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $3.25 price target on shares of Innoviz Technologies in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Innoviz Technologies presently has a consensus rating of “Hold” and a consensus price target of $3.80.

Innoviz Technologies Stock Performance

INVZ traded down $0.01 during trading on Thursday, reaching $0.49. The company had a trading volume of 3,546,799 shares, compared to its average volume of 2,068,008. The firm’s 50-day simple moving average is $0.71 and its 200 day simple moving average is $0.85. The company has a market cap of $66.28 million, a price-to-earnings ratio of -0.74 and a beta of 1.06. Innoviz Technologies has a 12-month low of $0.45 and a 12-month high of $2.99.

Institutional Investors Weigh In On Innoviz Technologies

A number of institutional investors have recently bought and sold shares of INVZ. Cowen AND Company LLC boosted its position in 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 acquiring an additional 6,172,864 shares during the period. FIFTHDELTA Ltd lifted its holdings in shares of Innoviz Technologies by 64.9% during the 1st quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock valued at $19,436,000 after buying an additional 5,668,684 shares during the last quarter. Polar Asset Management Partners Inc. lifted its holdings in shares of Innoviz Technologies by 29.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock valued at $2,665,000 after buying an additional 735,300 shares during the last quarter. Interval Partners LP lifted its holdings in shares of Innoviz Technologies by 19.6% during the 2nd quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock valued at $2,519,000 after buying an additional 444,823 shares during the last quarter. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Innoviz Technologies during the 2nd quarter valued at about $371,000. 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.