Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 1,286,585 Innoviz Technologies Ltd. $INVZ

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,286,585 shares of the company’s stock, valued at approximately $1,097,000.

A number of other institutional investors and hedge funds have also made changes to their positions in INVZ. Millennium Management LLC boosted its holdings in Innoviz Technologies by 25,626.3% in the third quarter. Millennium Management LLC now owns 4,788,688 shares of the company’s stock valued at $9,769,000 after acquiring an additional 4,770,074 shares during the last quarter. Sora Investors LLC purchased a new stake in Innoviz Technologies during the third quarter valued at about $4,507,000. JPMorgan Chase & Co. increased its stake in Innoviz Technologies by 3,440,684.4% during the second quarter. JPMorgan Chase & Co. now owns 1,101,051 shares of the company’s stock worth $1,806,000 after acquiring an additional 1,101,019 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Innoviz Technologies by 228.0% in the 3rd quarter. Two Sigma Investments LP now owns 939,469 shares of the company’s stock worth $1,917,000 after purchasing an additional 653,032 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Innoviz Technologies in the 3rd quarter worth about $1,479,000. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Innoviz Technologies Trading Down 1.9%

Shares of NASDAQ INVZ opened at $0.79 on Wednesday. Innoviz Technologies Ltd. has a 12-month low of $0.58 and a 12-month high of $2.54. The company has a market cap of $168.68 million, a P/E ratio of -2.31 and a beta of 1.44. The stock has a fifty day moving average price of $0.70 and a 200 day moving average price of $1.03.

Innoviz Technologies (NASDAQ:INVZ) last issued its earnings results on Wednesday, February 25th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Innoviz Technologies had a negative return on equity of 73.64% and a negative net margin of 123.06%.The company had revenue of $12.67 million during the quarter, compared to analysts’ expectations of $15.00 million. On average, sell-side analysts forecast that Innoviz Technologies Ltd. will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INVZ has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Innoviz Technologies in a research note on Friday, March 27th. Wall Street Zen lowered shares of Innoviz Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Innoviz Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $3.10.

Innoviz Technologies 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.