During the last session, Innoviz Technologies Ltd. (NASDAQ:INVZ)’s traded shares were 2.81 million. At the end of the trading day, the stock’s price was $5.42, reflecting an intraday loss of -0.91% or -$0.05. The 52-week high for the INVZ share is $9.72, that puts it down -79.34 from that peak though still a striking 46.68% gain since the share price plummeted to a 52-week low of $2.89. The company’s market capitalization is $642.05M, and the average intraday trading volume over the past 10 days was 2.71 million shares, and the average trade volume was 1.79 million shares over the past three months.
Innoviz Technologies Ltd. (INVZ) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. INVZ has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.25.
Innoviz Technologies Ltd. (NASDAQ:INVZ) trade information
Innoviz Technologies Ltd. (INVZ) registered a -0.91% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.91% in intraday trading to $5.42 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 44.53%, and it has moved by 36.52% in 30 days. Based on these gigs, the overall price performance for the year is -37.84%. The short interest in Innoviz Technologies Ltd. (NASDAQ:INVZ) is 3.94 million shares and it means that shorts have 4 day(s) to cover.
The consensus price target of analysts on Wall Street is $8.00, which implies an increase of 32.25% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $10.00 respectively. As a result, INVZ is trading at a discount of -84.5% off the target high and -29.15% off the low.
Innoviz Technologies Ltd. (INVZ) estimates and forecasts
Statistics show that Innoviz Technologies Ltd. has outperformed its competitors in share price, compared to the industry in which it operates. Innoviz Technologies Ltd. (INVZ) shares have gone up 30.29% during the last six months, with a year-to-date growth rate more than the industry average at 25.97% against -0.40. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 65.80% this quarter and then drop -35.00% in the quarter after that. In the rating firms’ projections, revenue will increase 69.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.93 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $2.47 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.25 million and $2.08 million respectively. In this case, analysts expect current quarter sales to shrink by -14.20% and then jump by 19.00% in the coming quarter.
While earnings are projected to return -88.40% in 2022.
Innoviz Technologies Ltd. is due to release its next quarterly earnings on November 10. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Innoviz Technologies Ltd. (NASDAQ:INVZ)’s Major holders
Innoviz Technologies Ltd. insiders own 7.35% of total outstanding shares while institutional holders control 45.24%, with the float percentage being 48.82%. Antara Capital, LP is the largest shareholder of the company, while 99 institutions own stock in it. As of Mar 30, 2022, the company held over 10.65 million shares (or 7.89% of all shares), a total value of $38.54 million in shares.
The next largest institutional holding, with 9.47 million shares, is of Magma Venture Partners General Partner Ltd.’s that is approximately 7.02% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $34.27 million.
Also, the Mutual Funds coming in first place with the largest holdings of Innoviz Technologies Ltd. (INVZ) shares are Global X Fds-Global X Autonomous & Electric Vehicles ETF and Neuberger & Berman Intrinsic Value Fd. Data provided on Jun 29, 2022 indicates that Global X Fds-Global X Autonomous & Electric Vehicles ETF owns about 2.74 million shares. This amounts to just over 2.03 percent of the company’s overall shares, with a $10.75 million market value. The same data shows that the other fund manager holds slightly less at 1.06 million, or about 0.79% of the stock, which is worth about $4.16 million.