FifthDelta Ltd. recently announced the acquisition of new stake in Innoviz Technologies Ltd (NASDAQ:INVZ). The institutional investor has increased its shareholding in the Consumer Cyclical company by 15.06% to 13.23 million shares with purchase of 1.73 million shares. This fresh investment now brings its stake to 8.11% valued currently at $22.63 million. In addition, Cowen & Co. LLC raised its holdings by 1.33 million to 6.35 million shares. And Phoenix Investments House Ltd. has lifted its position by 202.79% or 4.19 million shares – to 6.26 million shares.
With over 6.54 million Innoviz Technologies Ltd (INVZ) shares trading Tuesday and a closing price of $2.58 on the day, the dollar volume was approximately $16.89 million. The shares have shown a negative half year performance of -12.54% and its price on 01/02/24 gained nearly 1.98%. Currently, there are 164.89M common shares owned by the public and among those 157.58M shares have been available to trade.
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Shares of Innoviz Technologies Ltd (NASDAQ: INVZ) opened at $2.51, down -$0.02 from a prior closing price of $2.53. The company’s stock has a 5-day price change of -0.77% and 32.99% over the past three months. INVZ shares are trading 1.98% year to date (YTD), with the 12-month market performance down to -31.56% lower. It has a 12-month low price of $1.30 and touched a high of $6.14 over the same period. INVZ has an average intraday trading volume of 3.89 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.55%, 31.08%, and 2.50% respectively.
Institutional ownership of Innoviz Technologies Ltd (NASDAQ: INVZ) shares accounts for 52.12% of the company’s 164.89M shares outstanding. Mutual fund holders own 46.29%, while other institutional holders and individual stakeholders account for 6.53% and — respectively.
It has a market capitalization of $425.42M and a beta (3y monthly) value of 1.08. The earnings-per-share (ttm) stands at -$0.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.32% over the week and 9.57% over the month.
Analysts forecast that Innoviz Technologies Ltd (INVZ) will achieve an EPS of -$0.18 for the current quarter, -$0.18 for the next quarter and -$0.77 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.26 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.25 a year ago. Earnings per share for the fiscal year are expected to increase by 15.24%, and 3.74% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Innoviz Technologies Ltd (INVZ) as a “Strong Buy” at a consensus score of 1.40. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the INVZ, a number of firms have released research notes about the stock. Rosenblatt stated their Neutral rating for the stock in a research note on October 25, 2022, with the firm’s price target at $5.
