Identiv (NASDAQ:INVE) Upgraded at Wall Street Zen
by Tristan Rich · The Markets DailyWall Street Zen upgraded shares of Identiv (NASDAQ:INVE – Free Report) from a sell rating to a hold rating in a research note issued to investors on Sunday morning,Wall Street Zen reports.
A number of other research firms have also commented on INVE. Lake Street Capital lowered Identiv from a “buy” rating to a “hold” rating and cut their price target for the stock from $6.00 to $4.00 in a report on Thursday, June 25th. Craig Hallum lowered Identiv from a “buy” rating to a “hold” rating and set a $3.10 price objective on the stock. in a research note on Thursday, June 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a report on Wednesday, June 24th. Finally, UBS Group set a $3.10 target price on Identiv in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Identiv presently has a consensus rating of “Reduce” and an average target price of $3.40.
Read Our Latest Research Report on Identiv
Identiv Price Performance
NASDAQ INVE opened at $2.60 on Friday. The firm has a market cap of $63.02 million, a P/E ratio of -3.94 and a beta of 1.23. The company’s 50 day moving average is $2.74 and its 200-day moving average is $3.40. Identiv has a 12-month low of $2.42 and a 12-month high of $5.30.
Identiv (NASDAQ:INVE – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.06). Identiv had a negative return on equity of 11.02% and a negative net margin of 62.93%.The business had revenue of $5.68 million during the quarter, compared to the consensus estimate of $5.75 million.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of INVE. Connective Capital Management LLC bought a new position in shares of Identiv in the second quarter worth $328,000. AXQ Capital LP bought a new stake in Identiv during the second quarter valued at $26,000. Marquette Asset Management LLC purchased a new position in Identiv during the second quarter worth about $200,000. Assenagon Asset Management S.A. grew its position in Identiv by 580.2% during the second quarter. Assenagon Asset Management S.A. now owns 83,861 shares of the technology company’s stock worth $211,000 after buying an additional 71,533 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Identiv by 184.0% in the 1st quarter. NewEdge Advisors LLC now owns 112,692 shares of the technology company’s stock worth $417,000 after acquiring an additional 73,015 shares during the last quarter. 65.16% of the stock is owned by institutional investors.
Identiv Company Profile
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.