From MarketBeat:

Migdal Insurance & Financial Holdings Ltd. increased its holdings in Innoviz Technologies Ltd. by 73.7% in the 3rd quarter, bringing its total to 4,195,000 shares valued at $8,180,000. Other institutions also bought INVZ shares in recent months, raising institutional ownership to 54.00%. (NASDAQ:INVZ)

Innoviz Technologies stock dropped 0.8% to $2.43 per share, a 52-week low-high of $1.30-$6.14. The company posted a Q3 loss of $0.18 per share and $3.48 million in revenue. A negative net margin of 1,689.54% and a negative return on equity of 76.16% are also on record for Innoviz Technologies. ()

Innoviz Technologies Ltd. produces solid-state LiDAR sensors and develops perception software for autonomous vehicles, with focus on an automotive-grade solution. The company is working to mass-produce sensors and software for use in autonomous vehicles.

The shares of Innoviz Technologies are projected to be down, but a brighter future could be in store for the company.



Read more: Innoviz Technologies Ltd. (NASDAQ:INVZ) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.