Carolinas Wealth Consulting LLC Sells 101,115 Shares of Innoviz Technologies Ltd. (NASDAQ:INVZ)

Carolinas Wealth Consulting LLC reduced its holdings in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 50.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 98,885 shares of the company’s stock after selling 101,115 shares during the quarter. Carolinas Wealth Consulting LLC owned approximately 0.07% of Innoviz Technologies worth $92,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. FIFTHDELTA Ltd increased its holdings in Innoviz Technologies by 64.9% in the first quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock valued at $19,436,000 after purchasing an additional 5,668,684 shares during the period. Cowen AND Company LLC increased its stake in shares of Innoviz Technologies by 315.8% in the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after buying an additional 6,172,864 shares during the period. Scotia Capital Inc. acquired a new stake in shares of Innoviz Technologies in the fourth quarter valued at about $816,000. Koshinski Asset Management Inc. raised its position in shares of Innoviz Technologies by 232.1% during the first quarter. Koshinski Asset Management Inc. now owns 200,308 shares of the company’s stock worth $270,000 after acquiring an additional 140,000 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of Innoviz Technologies in the second quarter worth approximately $185,000. Institutional investors own 63.26% of the company’s stock.

Wall Street Analyst Weigh In

INVZ has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $2.00 target price on shares of Innoviz Technologies in a research report on Monday, September 9th. The Goldman Sachs Group cut shares of Innoviz Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $2.25 to $1.00 in a research report on Thursday, July 11th. Rosenblatt Securities restated a “neutral” rating and issued a $3.25 target price on shares of Innoviz Technologies in a report on Tuesday, September 10th. Finally, Westpark Capital reiterated a “buy” rating and set a $6.00 price target on shares of Innoviz Technologies in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Innoviz Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $3.85.

Innoviz Technologies Price Performance

NASDAQ:INVZ opened at $0.74 on Thursday. Innoviz Technologies Ltd. has a twelve month low of $0.50 and a twelve month high of $2.99. The company has a fifty day moving average of $0.74 and a 200-day moving average of $1.01. The firm has a market capitalization of $100.53 million, a P/E ratio of -0.96 and a beta of 0.99.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $6.66 million during the quarter, compared to the consensus estimate of $4.77 million. Innoviz Technologies had a negative net margin of 338.67% and a negative return on equity of 75.99%. During the same period last year, the firm posted ($0.23) earnings per share. On average, analysts anticipate that Innoviz Technologies Ltd. will post -0.64 EPS for the current fiscal year.

Innoviz Technologies 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.