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 13.68% to 10.61 million shares with purchase of 1.28 million shares. This fresh investment now brings its stake to 7.79% valued currently at $26.54 million. In addition, Antara Capital LP raised its holdings by 0.44 million to 7.06 million shares. And Citigroup Global Markets, Inc. has lifted its position by 62.91% or 1.98 million shares – to 5.14 million shares.
With over 2.03 million Innoviz Technologies Ltd. (INVZ) shares trading Tuesday and a closing price of $2.84 on the day, the dollar volume was approximately $5.76 million. Currently, there are 136.08M common shares owned by the public and among those 126.24M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for INVZ have a consensus price objective of $8.08. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $4.50. The average price target is 64.85% above its recent price level and an upside to the estimated low will see the stock gain 36.89% over that period. But an upside of 78.15% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
Shares of Innoviz Technologies Ltd. (NASDAQ: INVZ) opened at $2.83, down -$0.01 from a prior closing price of $2.84. The company’s stock has a 5-day price change of 4.41% and -34.11% over the past three months. INVZ shares are trading -27.74% year to date (YTD), with the 12-month market performance down to -31.23% lower. It has a 12-month low price of $2.09 and touched a high of $6.21 over the same period. INVZ has an average intraday trading volume of 1.80 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 11.98%, -4.49%, and -35.50% respectively.
Institutional ownership of Innoviz Technologies Ltd. (NASDAQ: INVZ) shares accounts for 51.50% of the company’s 136.08M shares outstanding. Mutual fund holders own 4.81%, while other institutional holders and individual stakeholders account for 44.01% and — respectively.
It has a market capitalization of $429.27M. The earnings-per-share (ttm) stands at -$0.94. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.78% over the week and 9.20% over the month.
Analysts forecast that Innoviz Technologies Ltd. (INVZ) will achieve an EPS of -$0.23 for the current quarter, -$0.23 for the next quarter and -$0.83 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of -$0.21. Comparatively, EPS for the current quarter was -$0.21 a year ago. Earnings per share for the fiscal year are expected to increase by 8.50%, and 10.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Innoviz Technologies Ltd. (INVZ) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
