Polar Asset Management Partners Inc. Has $4.46 Million Stock Position in Innoviz Technologies Ltd. (NASDAQ:INVZ)

Polar Asset Management Partners Inc. reduced its position in Innoviz Technologies Ltd. (NASDAQ:INVZ) by 17.5% in the 4th quarter, HoldingsChannel reports. The firm owned 2,655,600 shares of the company’s stock after selling 563,800 shares during the period. Polar Asset Management Partners Inc.’s holdings in Innoviz Technologies were worth $4,461,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Traynor Capital Management Inc. acquired a new stake in Innoviz Technologies in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new stake in Innoviz Technologies in the 4th quarter valued at about $25,000. Lido Advisors LLC acquired a new stake in Innoviz Technologies in the 4th quarter valued at about $29,000. OneDigital Investment Advisors LLC acquired a new stake in Innoviz Technologies in the 4th quarter valued at about $37,000. Finally, Sprott Inc. acquired a new stake in Innoviz Technologies in the 4th quarter valued at about $54,000. 63.26% of the stock is currently owned by institutional investors and hedge funds.

Innoviz Technologies Trading Up 3.7%

NASDAQ INVZ opened at $0.98 on Friday. Innoviz Technologies Ltd. has a 1-year low of $0.45 and a 1-year high of $3.14. The company has a 50 day moving average of $0.69 and a 200-day moving average of $0.96. The company has a market cap of $195.94 million, a price-to-earnings ratio of -1.54 and a beta of 0.84.

Innoviz Technologies (NASDAQ:INVZ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). Innoviz Technologies had a negative net margin of 321.53% and a negative return on equity of 87.40%. The company had revenue of $6.03 million during the quarter, compared to the consensus estimate of $5.86 million. On average, equities research analysts forecast that Innoviz Technologies Ltd. will post -0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INVZ has been the subject of several research reports. Westpark Capital restated a “buy” rating and set a $2.22 price objective on shares of Innoviz Technologies in a research report on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $4.00 price objective on shares of Innoviz Technologies in a research report on Thursday.

About Innoviz Technologies

Innoviz Technologies Ltd. manufactures and sells automotive grade LiDAR sensors and perception software to enable safe autonomous driving at a mass scale. The company offers InnovizOne, a solid-state LiDAR sensor designed for automakers and robotaxis, shuttles, trucks, and delivery companies requiring an automotive-grade and mass-producible solution to achieve autonomy.