Identiv (NASDAQ:INVE) Lowered to Hold Rating by Craig Hallum

Identiv (NASDAQ:INVE) was downgraded by equities researchers at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other equities research analysts also recently issued reports on INVE. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a research report on Friday, March 27th. Finally, Lake Street Capital raised their price objective on Identiv from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.33.

Identiv Stock Performance

INVE stock opened at $3.69 on Thursday. The stock has a market capitalization of $88.60 million, a P/E ratio of -5.12 and a beta of 1.19. Identiv has a one year low of $3.08 and a one year high of $5.30. The company has a 50 day moving average price of $4.15 and a two-hundred day moving average price of $3.69.

Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $7.41 million for the quarter, compared to analyst estimates of $6.92 million. Identiv had a negative return on equity of 11.74% and a negative net margin of 70.52%. Research analysts forecast that Identiv will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Prelude Capital Management LLC increased its stake in Identiv by 0.6% during the 3rd quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock worth $2,130,000 after buying an additional 3,623 shares during the period. Cannell Capital LLC grew its stake in Identiv by 0.6% during the 3rd quarter. Cannell Capital LLC now owns 610,855 shares of the technology company’s stock valued at $2,107,000 after purchasing an additional 3,723 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Identiv during the 2nd quarter valued at approximately $38,000. Jane Street Group LLC acquired a new stake in shares of Identiv during the second quarter worth approximately $55,000. Finally, Goldman Sachs Group Inc. raised its holdings in Identiv by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock valued at $157,000 after acquiring an additional 17,811 shares in the last quarter. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

About Identiv

Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.

The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.