Innoviz Technologies Ltd. (NASDAQ:INVZ) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Innoviz Technologies Ltd. (NASDAQ:INVZ – Get Rating) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,343,259 shares of the company’s stock after selling 138,122 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Innoviz Technologies were worth $9,209,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in INVZ. Itau Unibanco Holding S.A. acquired a new stake in shares of Innoviz Technologies during the third quarter worth about $34,000. Engineers Gate Manager LP purchased a new stake in shares of Innoviz Technologies during the first quarter worth approximately $38,000. LPL Financial LLC purchased a new stake in shares of Innoviz Technologies during the second quarter worth approximately $43,000. Sei Investments Co. purchased a new stake in shares of Innoviz Technologies during the first quarter worth approximately $47,000. Finally, UBS Group AG purchased a new stake in shares of Innoviz Technologies during the third quarter worth approximately $57,000. Institutional investors and hedge funds own 51.74% of the company’s stock.

Innoviz Technologies Stock Down 9.7 %

Shares of Innoviz Technologies stock opened at $2.62 on Monday. The firm has a market capitalization of $357.16 million, a P/E ratio of -2.70 and a beta of 0.49. Innoviz Technologies Ltd. has a 52 week low of $2.09 and a 52 week high of $6.21. The firm’s 50 day moving average is $2.98 and its two-hundred day moving average is $4.10.

Innoviz Technologies (NASDAQ:INVZ – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $1.58 million during the quarter, compared to analysts’ expectations of $2.20 million. Innoviz Technologies had a negative net margin of 2,497.99% and a negative return on equity of 63.69%. As a group, research analysts expect that Innoviz Technologies Ltd. will post -0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INVZ. Rosenblatt Securities restated a “neutral” rating and set a $5.00 target price on shares of Innoviz Technologies in a research note on Thursday, April 6th. The Goldman Sachs Group cut their target price on shares of Innoviz Technologies from $7.00 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, April 12th.

Innoviz Technologies Company Profile

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Innoviz Technologies Ltd. designs and manufactures solid-state LiDAR sensors and develops perception software that enables the mass production of autonomous vehicles. The company manufactures InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxi, shuttle, trucking, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.