How To Invest In Innoviz Technologies Ltd (NASDAQ: INVZ) Stock. Performance & Trends

In the last trading session, 3.03 million shares of the Innoviz Technologies Ltd (NASDAQ:INVZ) were traded, and its beta was 1.00. Most recently the company’s share price was $1.35, and it changed around $0.02 or 1.50% from the last close, which brings the market valuation of the company to $223.88M. INVZ currently trades at a discount to its 52-week high of $4.39, offering almost -225.19% off that amount. The share price’s 52-week low was $1.25, which indicates that the current value has risen by an impressive 7.41% since then. We note from Innoviz Technologies Ltd’s average daily trading volume that its 10-day average is 1.8 million shares, with the 3-month average coming to 3.17 million.

Innoviz Technologies Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.40. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended INVZ as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Innoviz Technologies Ltd is expected to report earnings per share of -$0.15 for the current quarter.

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Innoviz Technologies Ltd (NASDAQ:INVZ) trade information

Instantly INVZ has showed a green trend with a performance of 1.50% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -46.64% year-to-date, but still down -5.59% over the last five days. On the other hand, Innoviz Technologies Ltd (NASDAQ:INVZ) is -16.15% down in the 30-day period. We can see from the shorts that 12.4 million shares have been sold at a short interest cover period of 4.64 day(s).

The consensus price target as assigned by Wall Street analysts is $10.5, which translates to bulls needing to increase their stock price by 87.14% from its current value. Analyst projections state that INVZ is forecast to be at a low of $8 and a high of $13.

Innoviz Technologies Ltd (INVZ) estimates and forecasts

Innoviz Technologies Ltd share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -24.58 percent over the past six months and at a 16.67% annual growth rate that is well above the industry average of 15.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 42.30% in revenue this quarter, and will report an increase of 34.80% in the next quarter. The year-over-year growth rate is expected to be 90.70%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $5.5 million in revenue for the current quarter. 4 analysts expect Innoviz Technologies Ltd to make $5.12 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.5 million and $1.06 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 266.70%. Forecasts for the next quarter put sales growth at 383.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 24.35%.

INVZ Dividends

Innoviz Technologies Ltd’s next quarterly earnings report is expected to be released around May 15 and May 20.

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

Upon looking at major shareholders, it appears that insiders hold 2.06% of Innoviz Technologies Ltd shares, and 42.33% of them are in the hands of institutional investors. The stock currently has a share float of 43.21%. Innoviz Technologies Ltd stock is held by 136 institutions, with Citigroup Inc. being the largest institutional investor. By Dec 30, 2023, it held 6.41% of the shares, which is about 8.72 million shares worth $11.78 million.

Fifthdelta Ltd, with 6.41% or 8.73 million shares worth $11.78 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Neuberger & Berman Intrinsic Value Fd and Direxion Shares ETF Tr-Direxion Moonshot Innovators ETF were the top two Mutual Funds as of Jan 30, 2024. The former held 1.77 million shares worth $2.4 million, making up 1.30% of all outstanding shares. On the other hand, Direxion Shares ETF Tr-Direxion Moonshot Innovators ETF held roughly 0.32 million shares worth around $0.43 million, which represents about 0.23% of the total shares outstanding.