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Should Innoviz Technologies Ltd. (NASDAQ: INVZ) Rally After -60.47% Drop From High?

Innoviz Technologies Ltd. (NASDAQ:INVZ)’s traded shares stood at 1.36 million during the last session. At the close of trading, the stock’s price was $3.87, to imply a decrease of -0.77% or -$0.03 in intraday trading. The INVZ share’s 52-week high remains $6.21, putting it -60.47% down since that peak but still an impressive 25.32% since price per share fell to its 52-week low of $2.89. The company has a valuation of $526.90M, with an average of 0.99 million shares in intraday trading volume over the past 10 days and average of 1.59 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Innoviz Technologies Ltd. (INVZ), translating to a mean rating of 2.20. Of 6 analyst(s) looking at the stock, 0 analyst(s) give INVZ a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.24.

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Innoviz Technologies Ltd. (NASDAQ:INVZ) trade information

After registering a -0.77% downside in the last session, Innoviz Technologies Ltd. (INVZ) has traded red over the past five days. The stock hit a weekly high of 4.05 this Friday, 03/17/23, dropping -0.77% in its intraday price action. The 5-day price performance for the stock is -2.52%, and -15.87% over 30 days. With these gigs, the year-to-date price performance is -1.53%. Short interest in Innoviz Technologies Ltd. (NASDAQ:INVZ) saw shorts transact 5.27 million shares and set a 3.22 days time to cover.

Analysts on Wall Street suggest a consensus price target of $8.50, implying an increase of 54.47% to the stock’s current value. The extremes give us $5.00 and $13.00 for target low and target high price respectively. As such, INVZ has been trading -235.92% off suggested target high and -29.2% from its likely low.

Innoviz Technologies Ltd. (INVZ) estimates and forecasts

Looking at statistics comparing Innoviz Technologies Ltd. share performance against respective industry, we note that the company has underperformed competitors. Innoviz Technologies Ltd. (INVZ) shares are -33.39% down over the last 6 months, with its year-to-date growth rate lower than industry average at 4.26% against 15.10%. Revenue is forecast to shrink -26.30% this quarter before jumping 4.30% for the next one. The rating firms project that company’s revenue will grow 29.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 5 analysts is $2.33 million. Meanwhile, for the quarter ending Mar 2023, a total of 4 analyst(s) estimate revenue growth to $3.16 million.Earnings reports from the last fiscal year show that sales brought in $1.66 million and $1.77 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 40.80% before jumping 78.10% in the following quarter.

INVZ Dividends

Innoviz Technologies Ltd. has its next earnings report out between May 09 and May 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Innoviz Technologies Ltd. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Innoviz Technologies Ltd. (NASDAQ:INVZ)’s Major holders

Innoviz Technologies Ltd. insiders hold 7.15% of total outstanding shares, with institutional holders owning 55.88% of the shares at 60.18% float percentage. In total, 55.88% institutions holds shares in the company, led by Antara Capital Lp. As of Sep 29, 2022, the company held over 12.47 million shares (or 9.18% of shares), all amounting to roughly $64.97 million.

The next major institution holding the largest number of shares is Magma Venture Partners General Partner Ltd. with 8.58 million shares, or about 6.31% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $33.7 million.

We also have Global X Fds-Global X Autonomous & Electric Vehicles ETF and Neuberger & Berman Intrinsic Value Fd as the top two Mutual Funds with the largest holdings of the Innoviz Technologies Ltd. (INVZ) shares. Going by data provided on Dec 30, 2022, Global X Fds-Global X Autonomous & Electric Vehicles ETF holds roughly 2.05 million shares. This is just over 1.51% of the total shares, with a market valuation of $8.06 million. Data from the same date shows that the other fund manager holds a little less at 1.13 million, or 0.83% of the shares, all valued at about 4.43 million.

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