The Goldman Sachs Group Has Lowered Expectations for Innoviz Technologies (NASDAQ:INVZ) Stock Price

Innoviz Technologies (NASDAQ:INVZ) had its target price cut by investment analysts at The Goldman Sachs Group from $1.00 to $0.75 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 54.00% from the company’s current price.

INVZ has been the topic of a number of other research reports. Westpark Capital reiterated a “buy” rating and set a $6.00 target price on shares of Innoviz Technologies in a report on Tuesday, August 6th. Cantor Fitzgerald cut Innoviz Technologies from an “overweight” rating to a “neutral” rating in a research note on Thursday. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $3.25 price objective on shares of Innoviz Technologies in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.80.

Innoviz Technologies Trading Down 2.6 %

Shares of NASDAQ INVZ opened at $0.49 on Thursday. The firm has a fifty day simple moving average of $0.71 and a two-hundred day simple moving average of $0.84. The firm has a market capitalization of $66.32 million, a PE ratio of -0.76 and a beta of 1.06. Innoviz Technologies has a 12 month low of $0.45 and a 12 month high of $2.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FIFTHDELTA Ltd grew its stake in shares of Innoviz Technologies by 64.9% in the first quarter. FIFTHDELTA Ltd now owns 14,397,087 shares of the company’s stock worth $19,436,000 after acquiring an additional 5,668,684 shares during the last quarter. Cowen AND Company LLC grew its position in Innoviz Technologies by 315.8% during the 2nd quarter. Cowen AND Company LLC now owns 8,127,316 shares of the company’s stock valued at $7,538,000 after purchasing an additional 6,172,864 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in Innoviz Technologies by 29.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 3,219,400 shares of the company’s stock valued at $2,665,000 after purchasing an additional 735,300 shares during the last quarter. Interval Partners LP raised its holdings in Innoviz Technologies by 19.6% in the second quarter. Interval Partners LP now owns 2,715,837 shares of the company’s stock worth $2,519,000 after buying an additional 444,823 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in shares of Innoviz Technologies in the second quarter worth approximately $371,000. Institutional investors own 63.26% of the company’s stock.

Innoviz Technologies Company 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.