GSA Capital Partners LLP Decreases Position in Innoviz Technologies Ltd. $INVZ

GSA Capital Partners LLP reduced its position in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ) by 86.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,753 shares of the company’s stock after selling 666,448 shares during the period. GSA Capital Partners LLP owned 0.05% of Innoviz Technologies worth $216,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Innoviz Technologies by 3,440,684.4% in the second quarter. JPMorgan Chase & Co. now owns 1,101,051 shares of the company’s stock worth $1,806,000 after acquiring an additional 1,101,019 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Innoviz Technologies by 38.2% in the first quarter. Goldman Sachs Group Inc. now owns 523,945 shares of the company’s stock worth $342,000 after buying an additional 144,822 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in Innoviz Technologies by 19.1% during the second quarter. Citizens Financial Group Inc. RI now owns 238,264 shares of the company’s stock worth $391,000 after acquiring an additional 38,264 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Innoviz Technologies by 6.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 212,140 shares of the company’s stock valued at $433,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Soviero Asset Management LP acquired a new stake in Innoviz Technologies in the 2nd quarter valued at about $328,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on INVZ. Weiss Ratings reissued a “sell (d-)” rating on shares of Innoviz Technologies in a research note on Monday, December 29th. Wall Street Zen lowered Innoviz Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Finally, 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 report on Wednesday, November 26th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.10.

Innoviz Technologies Stock Performance

Shares of Innoviz Technologies stock opened at $0.85 on Monday. The stock has a 50 day moving average of $1.00 and a 200 day moving average of $1.45. The firm has a market capitalization of $178.07 million, a price-to-earnings ratio of -2.51 and a beta of 1.35. Innoviz Technologies Ltd. has a fifty-two week low of $0.48 and a fifty-two week high of $2.54.

Innoviz Technologies (NASDAQ:INVZ) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $12.67 million during the quarter, compared to analyst estimates of $15.00 million. Innoviz Technologies had a negative net margin of 123.06% and a negative return on equity of 73.64%. Analysts forecast that Innoviz Technologies Ltd. will post -0.6 EPS for the current year.

About Innoviz Technologies

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.