Identiv (NASDAQ:INVE) Rating Lowered to “Hold” at Craig Hallum

Identiv (NASDAQ:INVE) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report released on Thursday, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a report on Friday, March 27th. Finally, Lake Street Capital upped 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 issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.33.

Identiv Trading Down 1.6%

Shares of NASDAQ:INVE opened at $3.69 on Thursday. Identiv has a 52 week low of $3.08 and a 52 week high of $5.30. The company’s 50 day moving average is $4.15 and its two-hundred day moving average is $3.69. The company has a market cap of $88.60 million, a PE ratio of -5.12 and a beta of 1.19.

Identiv (NASDAQ:INVE) last released 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 firm had revenue of $7.41 million for the quarter, compared to analysts’ expectations of $6.92 million. Identiv had a negative return on equity of 11.74% and a negative net margin of 70.52%. As a group, equities research analysts expect that Identiv will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Identiv

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pillsbury Lake Capital LLC purchased a new position in Identiv during the fourth quarter worth $3,630,000. Cannell Capital LLC purchased a new stake in shares of Identiv in the second quarter valued at $1,979,000. AIGH Capital Management LLC purchased a new stake in shares of Identiv in the first quarter valued at $1,514,000. Essex Investment Management Co. LLC boosted its stake in shares of Identiv by 75.6% during the fourth quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company’s stock valued at $2,779,000 after acquiring an additional 311,540 shares during the last quarter. Finally, Sei Investments Co. increased its position in Identiv by 108.9% during the 1st quarter. Sei Investments Co. now owns 241,766 shares of the technology company’s stock worth $895,000 after purchasing an additional 126,008 shares in the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

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.