Innoviz Technologies Ltd (NASDAQ:INVZ) price closed higher on Friday, May 16, and jumping 0.08% above its previous close.
A look at the daily price movement shows that the last close reads $0.98. Taking into account the 52-week price action we note that the stock hit a 52-week high of $3.14 and 52-week low of $0.45. The stock added 56.77% on its value in the past month.
Innoviz Technologies Ltd, which has a market valuation of $196.10 million, is expected to release its quarterly earnings report in June.
On average, analysts have forecast the company’s revenue for the quarter will hit 9M, with the likely lows of 7M and highs of 12M. The average estimate suggests sales growth for the quarter will likely rise by 35.05% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of 56.46M for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow 132.64% above that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give INVZ a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 4 analysts have assigned INVZ a recommendation rating as follows: 1 rate it as a Hold; 3 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Innoviz Technologies Ltd (INVZ) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that INVZ’s price is at present 25.14% off the SMA20 and 40.89% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 69.34, with weekly volatility standing at 15.15%. The indicator jumps to 8.88% when calculated based on the past 30 days. Innoviz Technologies Ltd (NASDAQ:INVZ)’s beta value is holding at 0.99, while the average true range (ATR) indicator is currently reading 0.08. Considering analysts have assigned the stock a price target range of $1-$13 as the low and high respectively, we find the trailing 12-month average consensus price target to be $3. Based on this estimate, we see that current price is roughly -1.01% off the estimated low and -1213.13% off the forecast high. Investors will no doubt be excited to see the share price fall to $3, which is the median consensus price, and at that level INVZ would be -203.03% from current price.
An analysis of the Innoviz Technologies Ltd (NASDAQ:INVZ) stock in terms of its daily trading volume indicates that the 3-month average is 5.03 million.
Current records show that the company has 198.96M in outstanding shares. The insiders’ percentage holdings are 0.00% of outstanding shares while the percentage share held by institutions stands at 27.50%. But the -41.33% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
