In the last trading session, 2.79 million Innoviz Technologies Ltd (NASDAQ:INVZ) shares changed hands as the company’s beta touched 0.99. With the company’s per share price at $2.19 changed hands at $0.34 or 18.38% during last session, the market valuation stood at $357.28M. INVZ’s last price was a discount, traded about -180.37% off its 52-week high of $6.14. The share price had its 52-week low at $1.30, which suggests the last value was 40.64% up since then. When we look at Innoviz Technologies Ltd’s average trading volume, we note the 10-day average is 2.71 million shares, with the 3-month average coming to 2.45 million.
Analysts gave the Innoviz Technologies Ltd (INVZ) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.33. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended INVZ as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Innoviz Technologies Ltd’s EPS for the current quarter is expected to be -$0.18.
Innoviz Technologies Ltd (NASDAQ:INVZ) trade information
Instantly INVZ was in green as seen at the end of in last trading. With action 18.38%, the performance over the past five days has been green. The jump to weekly highs of 2.23 on Friday, 11/17/23 added 18.38% to the stock’s daily price. The company’s shares are showing year-to-date downside of -44.27%, with the 5-day performance at 18.38% in the green. However, in the 30-day time frame, Innoviz Technologies Ltd (NASDAQ:INVZ) is 54.23% up. Looking at the short shares, we see there were 12.88 million shares sold at short interest cover period of 6.28 days.
The consensus price target for the stock as assigned by Wall Street analysts is $8.17, meaning bulls need an upside of 73.19% from its current market value. According to analyst projections, INVZ’s forecast low is $3.00 with $13.00 as the target high. To hit the forecast high, the stock’s price needs a -493.61% plunge from its current level, while the stock would need to soar -36.99% for it to hit the projected low.
Innoviz Technologies Ltd (INVZ) estimates and forecasts
Data shows that the Innoviz Technologies Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.41% over the past 6 months, a 23.40% in annual growth rate that is considerably higher than the industry average of 20.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Innoviz Technologies Ltd will rise 28.00%, while the growth in revenue is estimated to hit 30.80% for the next quarter. Year-over-year growth is forecast to reach 190.20% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $11.5 million. 4 analysts are of the opinion that Innoviz Technologies Ltd’s revenue for the quarter ending Mar 2024 will be $10.3 million. The company’s revenue for the corresponding quarters a year ago was $1.58 million and $1.5 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 629.20%. The estimates for the next quarter sales put growth at 586.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 27.41%. The 2023 estimates are for Innoviz Technologies Ltd earnings to increase by 12.88%.
Innoviz Technologies Ltd is expected to release its next quarterly earnings report on November 08.
Innoviz Technologies Ltd (NASDAQ:INVZ)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.50% of Innoviz Technologies Ltd shares while 57.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 60.41%. There are 57.08% institutions holding the Innoviz Technologies Ltd stock share, with Fifthdelta Ltd the top institutional holder. As of Jun 29, 2023, the company held 8.39% of the shares, roughly 11.5 million INVZ shares worth $32.66 million.
Citigroup Inc. holds the second largest percentage of outstanding shares, with 5.70% or 7.82 million shares worth $22.21 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were Global X Fds-Global X Autonomous & Electric Vehicles ETF and Neuberger & Berman Intrinsic Value Fd. With 2.6 million shares estimated at $5.08 million under it, the former controlled 1.90% of total outstanding shares. On the other hand, Neuberger & Berman Intrinsic Value Fd held about 1.29% of the shares, roughly 1.77 million shares worth around $4.06 million.