Tower Research Capital LLC TRC Purchases New Shares in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Tower Research Capital LLC TRC acquired a new position in Innoviz Technologies Ltd. (NASDAQ:INVZ) during the fourth quarter, Holdings Channel.com reports. The firm acquired 11,259 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in shares of Innoviz Technologies by 9.4% in the third quarter. Commonwealth Equity Services LLC now owns 208,638 shares of the company’s stock worth $407,000 after acquiring an additional 17,933 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Innoviz Technologies by 70.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,010,237 shares of the company’s stock worth $5,870,000 after purchasing an additional 1,248,834 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Innoviz Technologies by 124.7% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,046,139 shares of the company’s stock valued at $9,840,000 after purchasing an additional 2,799,962 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in shares of Innoviz Technologies during the 3rd quarter valued at approximately $213,000. Finally, Barclays PLC grew its position in shares of Innoviz Technologies by 85.6% during the third quarter. Barclays PLC now owns 3,040,724 shares of the company’s stock worth $5,929,000 after buying an additional 1,402,100 shares in the last quarter. 63.26% of the stock is owned by hedge funds and other institutional investors.

Innoviz Technologies Price Performance

Shares of INVZ stock traded up $0.09 on Friday, hitting $1.21. 4,081,150 shares of the stock traded hands, compared to its average volume of 1,896,149. The company has a market capitalization of $164.78 million, a PE ratio of -1.42 and a beta of 1.07. The company’s fifty day moving average is $1.32 and its 200 day moving average is $1.71. Innoviz Technologies Ltd. has a 1-year low of $0.94 and a 1-year high of $4.39.

Innoviz Technologies (NASDAQ:INVZ) last issued its earnings results on Wednesday, February 28th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). Innoviz Technologies had a negative net margin of 591.37% and a negative return on equity of 78.39%. The company had revenue of $14.92 million for the quarter, compared to analysts’ expectations of $12.25 million. As a group, equities research analysts expect that Innoviz Technologies Ltd. will post -0.85 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on INVZ shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $7.00 price target (down from $13.00) on shares of Innoviz Technologies in a report on Tuesday, March 26th. The Goldman Sachs Group cut their target price on shares of Innoviz Technologies from $3.00 to $2.50 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, Rosenblatt Securities reduced their price target on shares of Innoviz Technologies from $5.00 to $3.25 and set a “neutral” rating on the stock in a research report on Thursday, February 29th.

Innoviz Technologies 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.