Innoviz Technologies Ltd (NASDAQ: INVZ) Stock Seems Like A Good Option

Innoviz Technologies Ltd (NASDAQ:INVZ) shares, rose in value on Thursday, April 04, with the stock price up by 7.48% to the previous day’s close as strong demand from buyers drove the stock to $1.58.

Actively observing the price movement in the recent trading, the stock is buoying the session at $1.47. The value of beta (5-year monthly) is 1.03. Referring to stock’s 52-week performance, its high was $4.39, and the low was $1.25. On the whole, INVZ has fluctuated by 1.28% over the past month.

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With the market capitalization of Innoviz Technologies Ltd currently standing at about $262.03 million, investors are eagerly awaiting this quarter’s results, scheduled for May 15, 2024 – May 20, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.15, which is expected to increase to -$0.11 for fiscal year -$0.67 and then to about -$0.56 by fiscal year 2025. Data indicates that the EPS growth is expected to be 20.20% in 2025, while the next year’s EPS growth is forecast to be 16.40%.

Analysts have estimated the company’s revenue for the quarter at $5.6 million, with a low estimate of $5.5 million and a high estimate of $6 million. According to the average forecast, sales growth in current quarter could jump up 273.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $39.82 million, representing an increase of 90.70% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that INVZ’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of INVZ currently trading nearly 14.29% and 2.36% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.36, while the 7-day volatility ratio is showing 6.50% which for the 30-day chart, stands at 6.17%. Furthermore, Innoviz Technologies Ltd (INVZ)’s beta value is 0.98, and its average true range (ATR) is 0.11.

A comparison of Innoviz Technologies Ltd (INVZ) with its peers suggests the former has fared considerably weaker in the market. INVZ showed an intraday change of 7.48% in today’s session so far, and over the past year, it shrunk by -52.55%%.

Data on historical trading for Innoviz Technologies Ltd (NASDAQ:INVZ) indicates that the trading volumes over the past 10 days have averaged 1.88 million and over the past 3 months, they’ve averaged 3.00 million. According to company’s latest data on outstanding shares, there are 165.84 million shares outstanding.

Nearly 4.38% of Innoviz Technologies Ltd’s shares belong to company insiders and institutional investors own 41.69% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 12.4 million shares as on Mar 15, 2024, resulting in a short ratio of 4.64. According to the data, the short interest in Innoviz Technologies Ltd (INVZ) stood at 7.48% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 14.86 million. The stock has fallen by -37.55% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the INVZ stock heading into the next quarter.