Innoviz Technologies (NASDAQ:INVZ) Downgraded to Neutral Rating by Cantor Fitzgerald

Cantor Fitzgerald lowered shares of Innoviz Technologies (NASDAQ:INVZ) from an overweight rating to a neutral rating in a research report report published on Thursday morning, MarketBeat.com reports.

Several other research analysts also recently commented on INVZ. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $3.25 price target on shares of Innoviz Technologies in a research report on Tuesday, September 10th. Westpark Capital restated a “buy” rating and set a $6.00 price objective on shares of Innoviz Technologies in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.80.

Innoviz Technologies Price Performance

INVZ traded down $0.01 on Thursday, hitting $0.49. The company had a trading volume of 3,546,799 shares, compared to its average volume of 2,068,008. The company’s fifty day moving average price is $0.71 and its 200 day moving average price is $0.85. Innoviz Technologies has a 1-year low of $0.45 and a 1-year high of $2.99. The stock has a market cap of $66.28 million, a price-to-earnings ratio of -0.74 and a beta of 1.06.

Hedge Funds Weigh In On Innoviz Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC acquired a new position in Innoviz Technologies in the first quarter worth $258,000. Cowen AND Company LLC boosted its holdings in Innoviz Technologies by 315.8% in the second quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after acquiring an additional 6,172,864 shares during the last quarter. SkyView Investment Advisors LLC bought a new position in Innoviz Technologies during the second quarter worth about $371,000. Virtu Financial LLC boosted its holdings in Innoviz Technologies by 85.2% during the first quarter. Virtu Financial LLC now owns 86,171 shares of the company’s stock worth $116,000 after buying an additional 39,633 shares during the last quarter. Finally, Choreo LLC bought a new position in Innoviz Technologies during the second quarter worth about $185,000. Institutional investors and hedge funds own 63.26% of the company’s stock.

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.