Cantor Fitzgerald Downgrades Innoviz Technologies (NASDAQ:INVZ) to Neutral

Innoviz Technologies (NASDAQ:INVZ) was downgraded by analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a report released on Thursday, Marketbeat Ratings reports.

A number of other equities analysts have also recently weighed in on INVZ. Rosenblatt Securities reaffirmed a “neutral” rating and set a $3.25 target price on shares of Innoviz Technologies in a research note on Tuesday, September 10th. 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Innoviz Technologies presently has an average rating of “Hold” and an average price target of $3.80.

Innoviz Technologies Stock Down 2.6 %

NASDAQ:INVZ opened at $0.49 on Thursday. The business’s 50-day moving average price is $0.71 and its 200 day moving average price is $0.84. The firm has a market cap of $66.32 million, a P/E ratio of -0.76 and a beta of 1.06. Innoviz Technologies has a 52-week low of $0.45 and a 52-week high of $2.99.

Institutional Trading of Innoviz Technologies

A number of large investors have recently bought and sold shares of INVZ. Ground Swell Capital LLC acquired a new position in Innoviz Technologies in the second quarter worth $26,000. Virtu Financial LLC boosted its stake in Innoviz Technologies by 85.2% in the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after purchasing an additional 39,633 shares in the last quarter. Choreo LLC acquired a new position in Innoviz Technologies in the second quarter worth $185,000. Tidal Investments LLC acquired a new position in Innoviz Technologies in the first quarter worth $258,000. Finally, Koshinski Asset Management Inc. boosted its stake in Innoviz Technologies by 232.1% in the first quarter. Koshinski Asset Management Inc. now owns 200,308 shares of the company’s stock worth $270,000 after purchasing an additional 140,000 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors.

About Innoviz Technologies

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.