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Innoviz Technologies Ltd (NASDAQ: INVZ) Prices Could Soar To Much Higher Levels In Coming Months

In the last trading session, 1.62 million Innoviz Technologies Ltd (NASDAQ:INVZ) shares changed hands as the company’s beta touched 1.06. With the company’s per share price at $1.67 changed hands at $0.03 or 1.83% during last session, the market valuation stood at $275.37M. INVZ’s last price was a discount, traded about -214.97% off its 52-week high of $5.26. The share price had its 52-week low at $1.30, which suggests the last value was 22.16% up since then. When we look at Innoviz Technologies Ltd’s average trading volume, we note the 10-day average is 3.41 million shares, with the 3-month average coming to 0.34.

Innoviz Technologies Ltd (NASDAQ:INVZ) trade information

Instantly INVZ was in green as seen at the end of in last trading. With action 0.60%, the performance over the past five days has been green. The jump to weekly highs of 1.7100 added 1.83% to the stock’s daily price. The company’s shares are showing year-to-date downside of -33.99%, with the 5-day performance at 0.60% in the green. However, in the 30-day time frame, Innoviz Technologies Ltd (NASDAQ:INVZ) is -23.04% down. Looking at the short shares, we see there were 13.8 million shares sold at short interest cover period of 3.08 days.

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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 -26.11% over the past 6 months, a 23.40% in annual growth rate that is considerably higher than the industry average of 15.40%.

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 2024 estimates are for Innoviz Technologies Ltd earnings to increase by 15.24%.

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

If we look at who the major shareholders are, we find that insiders hold 4.43% of Innoviz Technologies Ltd shares while 49.52% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 51.82%. There are 49.52% 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.

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