Choreo LLC Buys New Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Choreo LLC acquired a new position in Innoviz Technologies Ltd. (NASDAQ:INVZ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 200,000 shares of the company’s stock, valued at approximately $185,000. Choreo LLC owned approximately 0.15% of Innoviz Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INVZ. Kovack Advisors Inc. bought a new stake in shares of Innoviz Technologies during the 1st quarter worth $28,000. Victory Capital Management Inc. purchased a new stake in Innoviz Technologies during the fourth quarter worth about $54,000. Virtu Financial LLC increased its holdings in Innoviz Technologies by 85.2% during the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after buying an additional 39,633 shares during the last quarter. Jump Financial LLC bought a new stake in Innoviz Technologies in the fourth quarter worth about $106,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Innoviz Technologies by 474.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 57,454 shares of the company’s stock valued at $145,000 after acquiring an additional 47,445 shares during the last quarter. 63.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Innoviz Technologies Trading Down 4.9 %

INVZ opened at $0.73 on Friday. Innoviz Technologies Ltd. has a 12 month low of $0.50 and a 12 month high of $2.99. The company has a market cap of $98.82 million, a PE ratio of -0.94 and a beta of 0.99. The company has a 50 day moving average of $0.73 and a 200 day moving average of $1.00.

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

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.