Westpark Capital Reaffirms “Buy” Rating for Innoviz Technologies (NASDAQ:INVZ)

Westpark Capital reissued their buy rating on shares of Innoviz Technologies (NASDAQ:INVZ) in a research report released on Tuesday morning,Benzinga reports. Westpark Capital currently has a $2.22 price objective on the stock.

Separately, Rosenblatt Securities reissued a “buy” rating and issued a $4.00 price target on shares of Innoviz Technologies in a research note on Thursday, February 27th.

Innoviz Technologies Stock Up 10.2%

INVZ opened at $1.01 on Tuesday. The company has a market cap of $200.95 million, a price-to-earnings ratio of -1.58 and a beta of 0.84. Innoviz Technologies has a 52-week low of $0.45 and a 52-week high of $3.14. The firm’s fifty day simple moving average is $0.68 and its two-hundred day simple moving average is $0.96.

Innoviz Technologies (NASDAQ:INVZ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $6.03 million for the quarter, compared to the consensus estimate of $5.86 million. Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. On average, research analysts forecast that Innoviz Technologies will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Innoviz Technologies

A number of institutional investors have recently bought and sold shares of the company. Traynor Capital Management Inc. purchased a new position in Innoviz Technologies during the fourth quarter worth about $25,000. FNY Investment Advisers LLC purchased a new position in Innoviz Technologies during the fourth quarter worth about $25,000. Lido Advisors LLC purchased a new position in Innoviz Technologies during the fourth quarter worth about $29,000. OneDigital Investment Advisors LLC purchased a new position in Innoviz Technologies during the fourth quarter worth about $37,000. Finally, Arkadios Wealth Advisors purchased a new position in Innoviz Technologies during the first quarter worth about $40,000. 63.26% of the stock is owned by hedge funds and other institutional investors.

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.