GSA Capital Partners LLP Lowers Stake in Innoviz Technologies Ltd. $INVZ

GSA Capital Partners LLP lessened its stake in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 86.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 105,753 shares of the company’s stock after selling 666,448 shares during the period. GSA Capital Partners LLP’s holdings in Innoviz Technologies were worth $216,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew 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 valued at $1,806,000 after buying an additional 1,101,019 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Innoviz Technologies by 38.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 523,945 shares of the company’s stock valued at $342,000 after acquiring an additional 144,822 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake 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 purchasing an additional 38,264 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Innoviz Technologies by 6.0% during the third quarter. PNC Financial Services Group Inc. now owns 212,140 shares of the company’s stock worth $433,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Soviero Asset Management LP purchased a new position in shares of Innoviz Technologies in the second quarter valued at approximately $328,000. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Innoviz Technologies in a research note on Monday, December 29th. The Goldman Sachs Group dropped their price target on shares of Innoviz Technologies from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Finally, Wall Street Zen cut Innoviz Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Innoviz Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $3.10.

Innoviz Technologies Stock Down 6.0%

NASDAQ INVZ opened at $0.85 on Monday. Innoviz Technologies Ltd. has a 52 week low of $0.48 and a 52 week high of $2.54. The firm has a 50 day moving average of $1.00 and a two-hundred day moving average of $1.45. The stock has a market capitalization of $178.07 million, a PE ratio of -2.51 and a beta of 1.35.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $12.67 million for the quarter, compared to analysts’ expectations of $15.00 million. Innoviz Technologies had a negative return on equity of 73.64% and a negative net margin of 123.06%. On average, equities research analysts expect that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current fiscal year.

Innoviz Technologies Company Profile

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.