JPMorgan Chase & Co. reiterated their overweight rating on shares of Innoviz Technologies (NASDAQ:INVZ – Free Report) in a research note released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a $7.00 price objective on the stock, down from their prior price objective of $13.00.
A number of other equities analysts have also recently weighed in on INVZ. The Goldman Sachs Group cut their price target on Innoviz Technologies from $3.00 to $2.50 and set a buy rating for the company in a report on Thursday, January 25th. Rosenblatt Securities reduced their target price on shares of Innoviz Technologies from $5.00 to $3.25 and set a neutral rating on the stock in a report on Thursday, February 29th.
Read Our Latest Stock Analysis on INVZ
Innoviz Technologies Stock Up 1.5 %
Innoviz Technologies (NASDAQ:INVZ – Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $14.92 million during the quarter, compared to analysts’ expectations of $12.25 million. Innoviz Technologies had a negative net margin of 591.37% and a negative return on equity of 78.39%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in INVZ. Torno Capital LLC acquired a new stake in shares of Innoviz Technologies during the fourth quarter valued at about $25,000. Crown Wealth Group LLC purchased a new stake in Innoviz Technologies during the 4th quarter worth approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in Innoviz Technologies during the 4th quarter worth approximately $28,000. Nebula Research & Development LLC acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at approximately $28,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Innoviz Technologies during the 4th quarter valued at approximately $29,000. 63.26% of the stock is currently owned by hedge funds and other institutional investors.
Innoviz Technologies Company Profile
Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.
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