Identiv (NASDAQ:INVE) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Identiv (NASDAQ:INVE) from a sell rating to a hold rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Several other analysts have also recently commented on INVE. UBS Group set a $3.10 target price on Identiv in a research report on Thursday, June 25th. Lake Street Capital lowered Identiv from a “buy” rating to a “hold” rating and dropped their price target for the company from $6.00 to $4.00 in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a research note on Wednesday, June 24th. Finally, Craig Hallum downgraded Identiv from a “buy” rating to a “hold” rating and set a $3.10 price objective for the company. in a research note 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. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $3.40.

Identiv Stock Performance

Shares of NASDAQ:INVE opened at $2.58 on Friday. The company has a market cap of $62.54 million, a PE ratio of -3.91 and a beta of 1.23. Identiv has a 52 week low of $2.42 and a 52 week high of $5.30. The firm has a 50 day simple moving average of $2.74 and a 200 day simple moving average of $3.40.

Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Wednesday, August 12th. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.68 million during the quarter, compared to analyst estimates of $5.75 million.

Institutional Investors Weigh In On Identiv

Institutional investors have recently modified their holdings of the stock. AXQ Capital LP purchased a new position in shares of Identiv during the 2nd quarter valued at $26,000. XTX Topco Ltd purchased a new stake in shares of Identiv during the second quarter worth $38,000. Jane Street Group LLC purchased a new stake in shares of Identiv during the second quarter worth $55,000. Franklin Resources Inc. acquired a new stake in Identiv during the third quarter valued at $85,000. Finally, Wedbush Securities Inc. boosted its position in Identiv by 176.5% during the fourth quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company’s stock valued at $139,000 after purchasing an additional 23,056 shares during the last quarter. Institutional investors and hedge funds 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.