Identiv (NASDAQ:INVE) Releases Earnings Results, Misses Expectations By $0.06 EPS

Identiv (NASDAQ:INVE) released its quarterly earnings results on Wednesday. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06), FiscalAI reports. The firm had revenue of $5.68 million during the quarter, compared to the consensus estimate of $5.75 million. Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%.

Identiv Stock Performance

Identiv stock opened at $2.62 on Thursday. Identiv has a fifty-two week low of $2.43 and a fifty-two week high of $5.30. The company has a market cap of $62.90 million, a PE ratio of -3.64 and a beta of 1.24. The business’s 50-day simple moving average is $3.06 and its two-hundred day simple moving average is $3.48.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on INVE shares. UBS Group set a $3.10 target price on shares of Identiv in a research note on Thursday, June 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a report on Wednesday, June 24th. Wall Street Zen raised Identiv to a “hold” rating in a research report on Saturday, April 25th. Craig Hallum downgraded Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price on the stock. in a research note on Thursday, June 25th. Finally, Lake Street Capital lowered Identiv from a “buy” rating to a “hold” rating and reduced their target price for the company from $6.00 to $4.00 in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $3.40.

Institutional Trading of Identiv

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in shares of Identiv by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after acquiring an additional 17,811 shares during the period. XTX Topco Ltd acquired a new position in Identiv during the second quarter valued at $38,000. Jane Street Group LLC acquired a new position in Identiv during the second quarter valued at $55,000. Boothbay Fund Management LLC boosted its holdings in Identiv by 27.6% in the second quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 80,678 shares during the last quarter. Finally, Cannell Capital LLC purchased a new position in shares of Identiv during the 2nd quarter valued at about $1,979,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.

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.