Innoviz Technologies (NASDAQ:INVZ) Given “Overweight” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research note released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a $7.00 price objective on the stock, down from their prior price objective of $13.00.

A number of other equities analysts have also recently weighed in on INVZ. The Goldman Sachs Group cut their price target on Innoviz Technologies from $3.00 to $2.50 and set a buy rating for the company in a report on Thursday, January 25th. Rosenblatt Securities reduced their target price on shares of Innoviz Technologies from $5.00 to $3.25 and set a neutral rating on the stock in a report on Thursday, February 29th.

Innoviz Technologies Stock Up 1.5 %

Shares of NASDAQ INVZ opened at $1.35 on Tuesday. The firm has a 50-day moving average price of $1.55 and a 200 day moving average price of $1.83. The stock has a market capitalization of $183.84 million, a price-to-earnings ratio of -1.59 and a beta of 1.07. Innoviz Technologies has a 52 week low of $1.25 and a 52 week high of $4.39.

Innoviz Technologies (NASDAQ:INVZ) last announced its earnings results on Wednesday, February 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $14.92 million during the quarter, compared to analysts’ expectations of $12.25 million. Innoviz Technologies had a negative net margin of 591.37% and a negative return on equity of 78.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INVZ. Torno Capital LLC acquired a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. Crown Wealth Group LLC purchased a new stake in Innoviz Technologies during the 4th quarter worth approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in Innoviz Technologies during the 4th quarter worth approximately $28,000. Nebula Research & Development LLC acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at approximately $28,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Innoviz Technologies during the 4th quarter valued at approximately $29,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.