Wall Street Zen Downgrades Innoviz Technologies (NASDAQ:INVZ) to Sell

Innoviz Technologies (NASDAQ:INVZ) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research firms also recently commented on INVZ. The Goldman Sachs Group dropped their target price on Innoviz Technologies from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Innoviz Technologies in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.10.

Innoviz Technologies Stock Up 3.5%

NASDAQ INVZ opened at $1.18 on Friday. Innoviz Technologies has a twelve month low of $0.48 and a twelve month high of $3.14. The company has a market cap of $246.36 million, a price-to-earnings ratio of -3.37 and a beta of 1.31. The business’s fifty day moving average is $1.57 and its 200 day moving average is $1.60.

Hedge Funds Weigh In On Innoviz Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in INVZ. Caprock Group LLC bought a new position in Innoviz Technologies during the third quarter worth $26,000. Bank Hapoalim BM acquired a new position in shares of Innoviz Technologies during the second quarter valued at about $26,000. O ROURKE & COMPANY Inc bought a new position in shares of Innoviz Technologies during the 2nd quarter worth about $33,000. WMG Financial Advisors LLC bought a new position in shares of Innoviz Technologies during the 2nd quarter worth about $34,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Innoviz Technologies in the 3rd quarter valued at about $44,000. 63.26% of the stock is owned by institutional investors and hedge funds.

Innoviz Technologies Company Profile

Innoviz Technologies Ltd. (NASDAQ: INVZ) is a developer of high-performance solid-state LiDAR sensors and perception software designed to support advanced driver assistance systems (ADAS) and autonomous driving applications. The company’s core business focuses on providing automotive-grade LiDAR hardware, along with software algorithms that enable accurate 3D mapping, object detection and environmental perception in real time. Innoviz’s technology is tailored for integration into passenger vehicles, commercial fleets and other mobility platforms seeking improved safety and autonomy.

Founded in 2016 and headquartered in Rosh Ha’ayin, Israel, Innoviz has emerged as a key supplier to leading global automakers and Tier 1 suppliers.