Innoviz Technologies (NASDAQ:INVZ) Announces Quarterly Earnings Results

Innoviz Technologies (NASDAQ:INVZ) issued its quarterly earnings results on Wednesday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01), Zacks reports. Innoviz Technologies had a negative return on equity of 80.09% and a negative net margin of 197.89%. Innoviz Technologies updated its FY 2025 guidance to EPS.

Innoviz Technologies Stock Down 4.7%

NASDAQ:INVZ traded down $0.08 during trading hours on Wednesday, reaching $1.54. 10,710,899 shares of the company’s stock were exchanged, compared to its average volume of 7,942,615. The business’s 50-day simple moving average is $1.93 and its two-hundred day simple moving average is $1.53. The company has a market capitalization of $320.48 million, a P/E ratio of -3.65 and a beta of 1.29. Innoviz Technologies has a 12 month low of $0.45 and a 12 month high of $3.14.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INVZ. Weiss Ratings restated a “sell (d-)” rating on shares of Innoviz Technologies in a report on Tuesday. The Goldman Sachs Group set a $2.50 target price on shares of Innoviz Technologies and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, Westpark Capital lifted their price target on shares of Innoviz Technologies from $2.53 to $3.30 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Innoviz Technologies has an average rating of “Hold” and an average price target of $3.27.

Hedge Funds Weigh In On Innoviz Technologies

A number of large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. bought a new stake in shares of Innoviz Technologies in the 3rd quarter valued at $44,000. Quantbot Technologies LP bought a new position in shares of Innoviz Technologies in the 3rd quarter worth $47,000. Invesco Ltd. bought a new stake in Innoviz Technologies during the 2nd quarter valued at $67,000. NewEdge Advisors LLC raised its holdings in Innoviz Technologies by 499.6% during the first quarter. NewEdge Advisors LLC now owns 70,021 shares of the company’s stock worth $46,000 after buying an additional 58,343 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Innoviz Technologies in the second quarter valued at $104,000. Institutional investors and hedge funds 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.