Sprott Inc. Makes New $54,000 Investment in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Sprott Inc. purchased a new position in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,000 shares of the company’s stock, valued at approximately $54,000.

Other hedge funds have also recently modified their holdings of the company. Traynor Capital Management Inc. purchased a new stake in Innoviz Technologies during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in shares of Innoviz Technologies during the fourth quarter worth $25,000. Koshinski Asset Management Inc. acquired a new position in shares of Innoviz Technologies in the 4th quarter valued at $169,000. Polar Asset Management Partners Inc. raised its stake in Innoviz Technologies by 29.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock worth $2,665,000 after acquiring an additional 735,300 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Innoviz Technologies by 13.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,805,731 shares of the company’s stock worth $11,434,000 after acquiring an additional 810,731 shares during the period. Institutional investors and hedge funds own 63.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on INVZ. The Goldman Sachs Group dropped their price target on Innoviz Technologies from $1.00 to $0.75 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Westpark Capital reiterated a “buy” rating and issued a $2.22 price target on shares of Innoviz Technologies in a report on Tuesday. Cantor Fitzgerald cut shares of Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Rosenblatt Securities raised shares of Innoviz Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.25 to $4.00 in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.19.

Innoviz Technologies Stock Down 4.0 %

Innoviz Technologies stock opened at $0.78 on Thursday. Innoviz Technologies Ltd. has a 52 week low of $0.45 and a 52 week high of $3.14. The firm has a market cap of $106.22 million, a price-to-earnings ratio of -1.22 and a beta of 0.72. The business’s 50-day moving average price is $1.47 and its 200 day moving average price is $0.98.

Innoviz Technologies (NASDAQ:INVZ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The business had revenue of $6.03 million for the quarter, compared to analysts’ expectations of $5.86 million. Equities analysts expect that Innoviz Technologies Ltd. will post -0.6 EPS for the current 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.