Innoviz Technologies Ltd (NASDAQ: INVZ) stock fell -5.94% on Monday to $2.06 against a previous-day closing price of $2.19. With 2.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.44 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $2.1900 whereas the lowest price it dropped to was $2.0400. The 52-week range on INVZ shows that it touched its highest point at $6.14 and its lowest point at $1.30 during that stretch. It currently has a 1-year price target of $8.17. Beta for the stock currently stands at 1.13.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INVZ was up-trending over the past week, with a rise of 5.10%, but this was up by 47.14% over a month. Three-month performance dropped to -1.90% while six-month performance fell -27.46%. The stock lost -60.98% in the past year, while it has lost -47.58% so far this year. A look at the trailing 12-month EPS for INVZ yields -0.92 with Next year EPS estimates of -0.79. For the next quarter, that number is -0.18. This implies an EPS growth rate of 12.88% for this year and 3.64% for next year.
Float and Shares Shorts:
At present, 163.14 million INVZ shares are outstanding with a float of 155.91 million shares on hand for trading. On Oct 30, 2023, short shares totaled 12.88 million, which was 7.81% higher than short shares on Sep 28, 2023. In addition to Mr. Omer David Keilaf as the firm’s Co-Founder, CEO & Director, Mr. Eldar Cegla serves as its Chief Financial Officer.
Through their ownership of 57.08% of INVZ’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.33% of INVZ, in contrast to 45.55% held by mutual funds. As the largest shareholder in INVZ with 8.11% of the stake, FifthDelta Ltd. holds 13,232,466 shares worth 13,232,466. A second-largest stockholder of INVZ, Citigroup Global Markets, Inc., holds 7,648,731 shares, controlling over 4.69% of the firm’s shares. Cowen & Co. LLC is the third largest shareholder in INVZ, holding 6,348,824 shares or 3.89% stake.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INVZ since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With INVZ analysts setting a high price target of $13.00 and a low target of $3.00, the average target price over the next 12 months is $8.17. Based on these targets, INVZ could surge 531.07% to reach the target high and rise by 45.63% to reach the target low. Reaching the average price target will result in a growth of 296.6% from current levels.