Identiv (NASDAQ:INVE) Posts Quarterly Earnings Results

Identiv (NASDAQ:INVE) issued its quarterly earnings data on Wednesday. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.06), FiscalAI reports. Identiv had a negative return on equity of 11.74% and a negative net margin of 70.52%.The firm had revenue of $5.68 million for the quarter, compared to analysts’ expectations of $5.73 million.

Identiv Stock Performance

Identiv stock traded up $0.04 during mid-day trading on Wednesday, reaching $2.62. 568,655 shares of the company were exchanged, compared to its average volume of 167,349. The firm’s 50-day simple moving average is $3.09 and its two-hundred day simple moving average is $3.49. Identiv has a twelve month low of $2.43 and a twelve month high of $5.30. The firm has a market cap of $62.91 million, a PE ratio of -3.64 and a beta of 1.24.

Analyst Ratings Changes

INVE has been the subject of a number of research analyst reports. Craig Hallum cut Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price for the company. in a research report on Thursday, June 25th. Lake Street Capital cut Identiv from a “buy” rating to a “hold” rating and reduced their price objective for the company from $6.00 to $4.00 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. UBS Group set a $3.10 target price on shares of Identiv in a research report on Thursday, June 25th. Finally, Wall Street Zen raised shares of Identiv to a “hold” rating in a report on Saturday, April 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.com, Identiv presently has a consensus rating of “Reduce” and an average price target of $3.40.

Institutional Investors Weigh In On Identiv

Several large investors have recently modified their holdings of INVE. Pillsbury Lake Capital LLC purchased a new position in Identiv in the 4th quarter valued at $3,630,000. Boothbay Fund Management LLC raised its position in Identiv by 7.0% during the 4th quarter. Boothbay Fund Management LLC now owns 401,519 shares of the technology company’s stock worth $1,542,000 after buying an additional 26,111 shares during the last quarter. Essex Investment Management Co. LLC lifted its stake in shares of Identiv by 75.6% in the 4th quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company’s stock worth $2,779,000 after acquiring an additional 311,540 shares during the period. Prelude Capital Management LLC lifted its stake in shares of Identiv by 0.6% in the 3rd quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock worth $2,130,000 after acquiring an additional 3,623 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Identiv by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,186,883 shares of the technology company’s stock valued at $4,095,000 after acquiring an additional 20,719 shares in the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

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.