Innoviz Technologies (NASDAQ:INVZ) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Innoviz Technologies (NASDAQ:INVZ) from a hold rating to a sell rating in a report published on Saturday.

Several other equities research analysts have also recently issued reports on the company. The Goldman Sachs Group cut their price target on Innoviz Technologies from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Innoviz Technologies in a report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Innoviz Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $3.10.

Innoviz Technologies Stock Up 3.5%

NASDAQ INVZ opened at $1.18 on Friday. The company has a market capitalization of $246.36 million, a P/E ratio of -3.37 and a beta of 1.31. Innoviz Technologies has a 12-month low of $0.48 and a 12-month high of $3.14. The firm has a 50-day moving average price of $1.57 and a two-hundred day moving average price of $1.61.

Institutional Investors Weigh In On Innoviz Technologies

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in shares of Innoviz Technologies by 6.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 212,140 shares of the company’s stock valued at $433,000 after purchasing an additional 12,000 shares during the last quarter. Caprock Group LLC acquired a new stake in Innoviz Technologies in the third quarter valued at about $26,000. WMG Financial Advisors LLC grew its position in Innoviz Technologies by 72.0% in the third quarter. WMG Financial Advisors LLC now owns 36,117 shares of the company’s stock valued at $74,000 after acquiring an additional 15,117 shares during the last quarter. Bank Hapoalim BM acquired a new position in Innoviz Technologies during the second quarter worth about $26,000. Finally, Cresset Asset Management LLC raised its stake in Innoviz Technologies by 10.1% during the first quarter. Cresset Asset Management LLC now owns 218,007 shares of the company’s stock worth $142,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 63.26% of the company’s stock.

Innoviz Technologies Company Profile

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.